Podcast: 'Tis the season, or at least the day, to be jolly Podcast: 'Tis the season, or at least the day, to be jolly Podcast: 'Tis the season, or at least the day, to be jolly

Podcast: 'Tis the season, or at least the day, to be jolly

Podcast 20 minutes to read
Saxo Market Call

Summary:  Today we look at the market exploding higher in the wake of the Fed Chair Powell speech on inflation and the labor market yesterday, as we note that Powell failed to specifically push back much against the current easing of financial conditions and market expectations that Fed policy will be loosening already by late next year and especially in 2024. But we also caution that, while the US equity market rallied through key resistance yesterday, the market has a tendency to react strongly to event risks on the day without notable follow through in following sessions. On that note, we also have important incoming data that can test yesterday's reaction in the form of the October US PCE inflation indicator ahead of tomorrow's US jobs report. We also look at the commodities market reaction to Powell's speech, particularly precious metals and discuss copper in the context of the drumbeat of news pointing to China easing up on Covid policy, as well as crude oil. Today's pod features Ole Hansen on commodities and John J. Hardy hosting and on FX.


Listen to today’s podcast - slides are available via the link.

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