Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Summary: Financial markets have calmed down significantly this week with the news flow fizzling and investors in a wait-and-see mode on inflation. Germany saw a terrible bid-to-cover ratio yesterday suggesting the latest decline in the Bund yield could quickly reverse and potentially reignite momentum in European banks. Are we heading for a new 70s-style energy shock? A revolt against big oil and their (lack) of focus on renewables swept across the market yesterday impacting three of the biggest led by ExxonMobil - We also cover rally in the Chinese Yuan and its implications for inflation, and earnings from Nvidia yesterday suggesting the semiconductor troubles will stay with the industry for at least 2-3 quarters. On today's pod were Peter Garnry on equities, Ole Hansen on commodities and Althea Spinozzi on fixed income.
Listen to today’s podcast and have a look at today’s slide deck.
Follow Saxo Market Call on your favorite podcast app: