Special Edition Podcast: Are we set for one of the great bear markets of the century?
Saxo Market Call
Summary: This Special Edition podcast features Peter Garnry, Saxo's head of Quant and Equity Strategy who offers his perspective on the status of the current US equity market drawdown and what makes it unlike any other market drawdown, relative to the current economic backdrop, since at least the 1980's and even the early 1970's. That's because we have nearly reached classic bear market status (a -20% drop from the top) even with a US economy that has yet to roll over and a Fed that is still bent on tightening policy further. We also look at why this drawdown is likely to achieve "top"-five status among bear markets of the last century as inflation is likely to continue even on any softening growth, preventing the kind of QE and rate cut response that has driven the levering up and serial asset price bubbles since the mid-late 1990's. This episode was recorded on Wednesday, May 25, with John J. Hardy hosting.
Follow Saxo Market Call on your favorite podcast app:
Latest Market Insights
Quarterly Outlook Q3 2022: The Runaway Train
- Central banks' attempts to kill inflation is a paradigm shift, which could end in a deep recession.
Tangible assets and profitable growth are the winnersWith US equities officially in a bear market, the big question is where and when is the bottom in the current drawdown?
Understanding the lack of investment appetite among oil majorsThe everything rally seen in recent quarters has become more uneven, as its strength is driven by commodities in short supply.
The pressure is on as the wind leaves the sailsWith cryptocurrencies in sharp decline, are we entering a crypto winter or is the bear market a healthy clean-up of the crypto space?
Why the Fed can never catch up and what turns the US dollar lower?Many other central banks are set to eventually outpace the Fed in hiking rates, taking their real interest rates to levels higher than the Fed will achieve.
Bank of Japan: Swimming against the tideThe Japanese economy has gone from the age of deflation to rapidly rising prices in no time, leaving the Bank of Japan in a pickle.
Green transformation detour and bear market hibernationWith the impending risk of global econonomic derailment, we share the five things investors need to consider in this new half year.
Crisis redux for the eurozone?Whether there's going to be a recession in Europe or not, the path towards a stable economy will be agonizing.