Un seul compte Saxo suffit pour accéder à nos plateformes.
Markets charge back higher as we continue to cast a jaundiced eye.
Podcast 24 minutes to read
Résumé: Today, we note the US equity market strength, but also note some of the signs that the rally is of poor quality as we continue to maintain that we are in an unsustainable bubble, while recognizing we've no ability to call even a temporary top. Also, this is a critical phase for the US-China trade talks as we don't know whether the market's optimism is justified. Thoughts on geopolitics, single stock stories, macro and FX and some compelling further reading and further listening links also on the call. Today's pod is hosted by Saxo Global Head of Macro Strategy John J. Hardy.
Listen to the full episode now or follow the Saxo Market Call on your favorite podcast app.
Today’s Links
My FX Update from today, as USDJPY finds new rally legs on the new minority government led by the LDP set to take charge.
Desmond Shum on X with a great post reminding us to keep our eye on the forest for the trees, that the US and China are getting a divorce. “After forty years of marriage, they’ve decided they can’t stand each other. The lawyers are in, and the accountants are dividing the joint assets — supply chains, tech, capital, markets.
CNBC on some of the names that surged on the US-Australia critical minerals deal. Caution - a lot of these have rallied like stink already.
The latest in The 100-year Pivot series of podcasts from Grant Williams and Hidden Forces’ Demetri Kofinas with guest Roger Mitchell, trying to diagnose “the cultural and spiritual malaise that seems to have taken hold of Western societies: the fraying social contract….and why life inside “the machine” leaves us lonely, angry, afraid and in dire need of human contact”. This, as well as “the dangers of politicizing religion and weaponizing faith in response to growing social and existential angst in Western societies.”
Chart of the Day - Nvidia
Worth noting that the lack of participation in the latest challenge of the market top is not seeing participation from the world’s largest company and AI leader. It even looks technically weak here.
Questions and comments, please!
We invite you to send any questions and comments you might have for the podcast team. Whether feedback on the show's content, questions about specific topics, or requests for more focus on a given market area in an upcoming podcast, please get in touch at marketcall@saxobank.com.This content is marketing material and should not be considered investment advice. Trading financial instruments carries risks and historic performance is not a guarantee for future performance.
The instrument(s) mentioned in this content may be issued by a partner, from which Saxo receives promotion, payment or retrocessions. While Saxo receives compensation from these partnerships, all content is conducted with the intention of providing clients with valuable options and information.
Dernières informations sur le marché
Matières premières
Matières premières
Commodities: Flying blind as U.S. shutdown halts COT reporting