Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
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Macro chat with Saxo CIO Steen Jakobsen
Clare MacCarthy
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.
Topics discussed in this edition include:
• 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.
• 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
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Quarterly Outlook
Commodity Outlook: Commodities rally despite global uncertainty
Ole Hansen
Head of Commodity Strategy
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Quarterly Outlook
Upending the global order at blinding speed
John J. Hardy
Global Head of Macro Strategy
We are witnessing a once-in-a-lifetime shredding of the global order. As the new order takes shape, ... -
Quarterly Outlook
Asset allocation outlook: From Magnificent 7 to Magnificent 2,645—diversification matters, now more than ever
Jacob Falkencrone
Global Head of Investment Strategy
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Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
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Quarterly Outlook
Equity Outlook: The ride just got rougher
Charu Chanana
Chief Investment Strategist
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Quarterly Outlook
China Outlook: The choice between retaliation or de-escalation
Charu Chanana
Chief Investment Strategist
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Quarterly Outlook
Commodity Outlook: A bumpy road ahead calls for diversification
Ole Hansen
Head of Commodity Strategy
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Quarterly Outlook
FX outlook: Tariffs drive USD strength, until...?
John J. Hardy
Global Head of Macro Strategy
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Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy