US Thanksgiving week features key Wednesday event risks
Saxo Market Call
Summary: Today we look at the lay of the equity market coming into this week, where we continue to note considerable market divergences, recapping the points from Friday, including the narrow market rally. We also look at whether credit spreads for high yield corporates are finally starting to deserve some attention. Focus in commodities on oil and especially gold this week as it is do-or-die time for bullish newcomers after the recent rally spike. The week ahead is a short one for US-based traders, with the Fed Chair nomination issue hanging over the market and the two key event risks for the week up on Wednesday, just before the long holiday weekend there. Today's pod features Peter Garnry on equities, Ole Hansen on fixed income and John J. Hardy hosting and on FX.
Follow Saxo Market Call on your favorite podcast app:
Latest Market Insights
Quarterly Outlook Q3 2022: The Runaway Train
- 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.