Morning Call: Nasdaq 100 corrects
In today's edition of the Saxo Morning Call, we look at how the US' leading tech equity index has been knocked back by a mix of Iran worries, the US charges against some Chinese banks and the fact we're hitting the end of the quarter. Gold, too, has fallen off its perch over St Louis Fed president James Bullard's remark that a 50bps rate cut "would be excessive".
Another Powell speech and quarter end coming up
The USD sell-off has run out of steam a bit ahead of a speech with Q&A from Fed Chair Powell late today. Ahead of quarter end, we wonder if portfolio reallocations could heavily swing price action in coming sessions, given large moves in especially bonds over the last quarter.