Podcast: Old fashioned risk-off a real change of pace
Saxo Market Call
Summary: Today we look at a "classic" episode of highly correlated risk-off across markets, as equities suffered another ugly session in the US, followed by an even uglier session in Japan on concerns of new Covid lockdowns there, while the USD, JPY and safe haven bonds enjoyed broad strength. Netflix results and guidance added to the negative energy and we look at incoming earnings elsewhere, as well as key signs of a budding political revolution in Germany that could change the face of Europe after the September election. Finally, we discuss a key nomination hearing today for "anti-trust icon" Lina Khan, who would join the FTC if approved. On today's pod were Peter Garnry on equities and John J. Hardy hosting and on FX.
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Latest Market Insights
Q4 Outlook 2022: Winter is coming
- 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.
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