Podcast: The BoJ is not for turning
Saxo Market Call
Summary: Today we discuss the Bank of Japan maintaining its policy stance overnight as it continues to swim against the stream of global central bank tightening, leading to a sharp new JPY weakening move. This contrasts with the Swiss National Bank's large hike yesterday, which has driven a tremendous CHF rally, not least in USDCHF. Also, weak US data drives a drop in US treasury yields, so where is the equity market focus: bond yields per se or on recession risks? Natural gas, gold, crude oil, metals, stocks to watch, upcoming earnings reports and more on today's pod, which features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Listen to today’s podcast - slides are also shared here.
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.