Macro chat with Saxo CIO Steen Jakobsen
Senior Editor, Saxo Bank
Summary: Join Saxo’s Chief Economist, Steen Jakobsen, and Head of FX Strategy John J Hardy, for the first edition of our new podcast series exploring the most important macroeconomic themes currently influencing the world’s financial markets and the likely trajectory of developments in the months ahead.
• How the Sino-US trade war may ultimately end with a “non-solution” outcome that would actually be beneficial to both Trump and Xi.
• Why the stable course of the CNY during this trade spat leaves markets dangerously complacent that low volatility will linger.
• Whether the Federal Reserve is now behind the curve or ahead of it with its monetary policy.
• Why the plight of the German car industry will finally force the EU into fiscal action and how the current political uncertainty in the bloc will change the conversation from a bigger Europe to a better Europe.
• Why the Brexit dilemma can’t be solved until UK prime minister May steps down and why there will have to be a second referendum.
• How the Brexit endgame will likely extend beyond the current Halloween deadline and why this is negative for sterling.
• How – and in which asset classes – investors should reposition their portfolios to reflect a period of relative stability over the summer months, followed by autumn volatility as governments start to panic.
Quarterly Outlook Q1 2022: Fuelling the Energy Crisis
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The bond bear market will not spare anyoneInvestors will need to prepare for the pain of a bond bear market in 2022. But are there opportunities out there, too?
Mean reversion for big 2021 moves and lots of volatilityDon't expect the Japanese yen or Chinese renminbi to stay at their overstretched valuations for long. Get the FX Outlook now.
The future in energy-intensive proof-of-work looks dimIn the midst of a global energy crisis, electricity-guzzling Bitcoin and Ethereum are set to feel the heat from politicians and investors.
Australian equities poised to benefit from the energy crisisThere may be an energy crisis, but that's fuelling a charge in the ASX. FInd out which stocks could be burning hot this quarter.
The EU’s unwise energy policyThe EU's energy crisis is one of the main drivers of inflation. Is there any relief around the corner, or is the situation critical?