Podcast: The desperation for the Fed pivot
Saxo Market Call
Summary: Today we look at the market celebrating a weak September US ISM Manufacturing data point taking long US treasury yields lower, with noise from the commentariat suggesting a Fed pivot may be near possibly adding energy to the squeeze on equity market bears yesterday. At the same time we note further hawkish noise from key Fed officials, include Vice Chair Williams. Elsewhere, we look at financial conditions, unusual behaviour in sectors that normally would have performed better yesterday, possibly on Tesla's very bad day. Crude oil, a huge surge in silver, gold pushing on resistance and more also 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 found via the link.
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Outrageous Predictions 2023: The War Economy
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EU Army forces EU down path to full unionWith continued challenges in the region and a US military that isn't aggressively enacting its former role as global policeman, the European Union agrees to create its own armed forces, bringing the whole region closer.
A country agrees to ban all meat production by 2030In an effort to become one of the global leaders on the path to net-zero emissions, one country decides to not only put a heavy tax on meat, but to ban domestic production entirely.
UK holds UnBrexit referendumFollowing a recession and domestic pressure, the United Kingdom is thrown into political turmoil that will end with a vote to wind back Brexit.
Widespread price controls are introduced to cap official inflationHistory tells us that with the war economy comes rationing and price controls. And this time is no different, as policymakers introduce strict price controls that lead to a range of unintended consequences.
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