Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Note: This is marketing material.
0900 – Eurozone April Consumer Confidence
1230 – US March Trade Balance
1400 – US March JOLTS Job Openings
1400 – US April Consumer Confidence
For all macro, earnings, and dividend events check Saxo’s calendar.
Volatility remained contained Monday. The VIX rose slightly to 25.15 (+1.25%), mirroring the late recovery in US equities. Short-term VIX1D dropped sharply (-9.45%), reflecting a calming of immediate risks. 442,676 VIX options traded, with 80% of volume in calls. Options flow showed heavy activity beyond Tesla and Nvidia: Palantir, Sofi, and Intel also featured prominently as traders positioned for earnings and tariff uncertainty. Today’s consumer confidence and JOLTS data could stir further moves.
Crypto markets edged lower after Monday’s rebound. Bitcoin fell -0.61% to $94,461, and Ethereum dropped -0.09% to $1,798. Solana and XRP also declined. Despite price dips, institutional flows remained strong: BlackRock’s IBIT saw $971M in inflows, its second-largest day ever. Ethereum ETFs recorded their first net inflows in eight weeks, signaling renewed whale accumulation. Crypto-exposed stocks like Coinbase (-2.08%) and Marathon (-2.03%) mirrored broader weakness.