Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
Summary: Today we talk about Nasdaq 100 futures attempted bounce from its 200-day moving average, a potential critical level for US technology stocks while the rest of the equity market is feeling the heat from inflationary pressures. Hang Seng futures are up 3.5% on the second rate cut by PBOC this year as Chinese policymakers increase efforts to smooth the ripples from the slowdown in the real estate sector. Gold is breaking up higher despite higher USD real yields and industrials metals are rallying on extremely tight supply and PBOC's rate cut. We also discuss December's PPI report from Germany showing a blistering change of 24% y/y driven by spikes in heating oil, electricity price, energy and mining. We round off the podcast with a discussion of stocks to watch today, earnings releases expected today with focus on Netflix, and the today's macro calendar. Today's pod features Peter Garnry on equities and Ole S. Hansen on commodities.
Listen to today’s podcast and have a look at today’s slide deck.
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