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Korean politician pops the chip vibe. Sterling under pressure.
Summary: Today - a Korean politician sparked enormous volatility in the key chip names there on suggesting the idea of a "citizens' dividend" to be extracted from the companies' enormous profits. It's an important test of the chip space after the recent parabolic run-up in key names. Also, the lack of progress in the US and Iran re-opening the Hormuz Strait has the US dollar pushing higher on higher oil prices ahead of the US April CPI release. Elsewhere, sterling is under mounting pressure from political uncertainty as Gilts also suffer. This and more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy.
Listen to the full episode now or follow the Saxo Market Call on your favorite podcast app.
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