Podcast: Biggest policy move in 40 years?
Saxo Market Call
Summary: Today we look at US President Biden looking to nearly double the capital gains tax in an American Families Plan to be delivered at a joint session of Congress next Wednesday and the implications for assets. If Biden is able to push through the planned changes for the US tax code, it would represent the largest policy shift since the Reagan Revolution. The announcement triggered a sell-off in equities and crypto. Elsewhere, we look at the effect of ambitious climate targets announced at a climate summit yesterday in the equity space and inflationary pressures in Europe from carbon pricing and globally from a further rise in food prices. On today's pod were Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Follow Saxo Market Call on your favorite podcast app:
Latest Market Insights
Quarterly Outlook Q3 2022: The Runaway Train
- Winter is coming to the financial markets as central banks are tightening their grip. How spring will look is still a question.
European energy crisis: it will get worse before it gets betterThe winter in Europe will be tough, but whether the result is political chaos or sustainable, innovative solutions is still undecided.
A difficult and volatile quarter awaitsAs the year draws to an end, commodities continue to be at centre stage of the world with growth pockets political uncertainty.
The bright side: crises drive innovationThe positive spin on crises is that they come with solutions. It is worrisome that deglobalisation may be a response to this crisis.
Green transformation in China: renewable energy and beyondGoing green, China needs to span numerous energy sources to ensure stability, as every source comes with a challenge.
Asia: Intermittent solutions, but a faster renewable adoption curveAsian energy supply is being squeezed. This and the adoption of renewables may change the investment sentiment in the region.
FX: A Fed thaw needed to deliver a sustained USD turn lowerThe US Dollar can keep momentum when the Federal Reserve continues to tighten, leaving the rest to play to their drum.
Autumn can become ugly for equities and bond holders. Comfort for Dollar longsTechnical analysis suggests that equities could face a tough Q4 as could fixed income. US Dollar positions could provide some upside.
The next stock market sector to watch, with stocks going nuclearAs the world scrambles to find affordable, sustainable energy, nuclear is getting attention from politicians and investors alike.
The crypto space is getting cold when the hype disappearsCryptocurrencies face a winter of their own as retail investors and governments are asking tough questions.