Moving Markets: Daily News Julius Baer

A higher-than-expected reading on US jobless claims rekindled expectations of earlier interest rate cuts this year, helping US equities to close at their highest levels ever. After the Swedish Riksbank cut interest rates on Wednesday, the Bank of England gave clear indications at its policy meeting yesterday that rate cuts are on the horizon. Meanwhile, demand for corporate bonds remains very strong, although risk premiums on debt remain very tight. And Hong Kong stocks are rising on a report that the dividend tax for mainland investors will be abolished. Fixed Income strategist Dario Messi says that there is no need to rush into longer-dated bonds at any price.
00:00 Introduction by Bernadette Anderko (Investment Writing)
00:23 Markets wrap-up by Mike Rauber (Investment Writing)
07:11 Fixed Income update by Dario Messi (Fixed Income Strategy)
12:17 Closing remarks by Bernadette Anderko (Investment Writing)
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While European markets ended the day firmly in the green yesterday, US equities struggled as investors remained fixated on when the Federal Reserve will start cutting interest rates. Asian markets followed the US lower, with Japanese equities underperforming and the recent rally in Hong Kong and mainland China came to a halt. Oil fell close to its lowest level since mid-March, while gold held steady this morning. Mathieu Racheter, Head of Equity Strategy, and Tim Gagie, Head of FX & PM Solutions in Geneva, join today’s show to provide further insights into our equity calls and what has been driving the FX markets.
00:00 Introduction by Bernadette Anderko (Investment Writing)
00:36 Markets wrap-up by Lucija Caculovic (Investment Writing)
06:35 Changes to our equity calls by Mathieu Racheter (Head of Equity Strategy)
10:42 FX and metals update by Tim Gagie (Head of FX & PM Solutions Geneva)
15:42 Closing remarks by Bernadette Anderko (Investment Writing)
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Global equity markets are rallying further as investors continue to revise their Fed policy bets after last week’s softer US jobs data. Asian stocks are hitting 15-month highs on renewed confidence in US interest rate cuts, while encouraging PMI data shows further evidence that the eurozone economy is healing. And as Bitcoin shows renewed strength, Manuel Villegas, Next Generation Research, provides us with an update on digital assets.
00:00 Introduction by Helen Freer (Investment Writing)
00:23 Markets wrap-up by Jonti Warris (Investment Writing)
06:25 Digital assets update by Manuel Villegas (Next Generation Research)
09:37 Closing remarks by Helen Freer (Investment Writing)
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Fed Chair Powell’s ‘No hike’ message and weaker-than-expected labour market data was the perfect combination for a strong end to the week for financial markets. Off the back of this, equity markets continued their uptrend after a difficult start to the month. And Chinese equities joined other regions in entering bull market territory. Mensur Pocinci, Head of Technical Analysis, talks about the improved sentiment for equity markets after April’s weakness, why he expects US Treasury yields to continue to fall, and why he thinks both have set the stage for new all-time highs.
00:00 Introduction by Helen Freer (Investment Writing)
00:23 Markets wrap-up by Jan Bopp (Investment Writing)
06:00 Technical Analysis update by Mensur Pocinci (Head of Technical Analysis Research)
10:47 Closing remarks by Helen Freer (Investment Writing)
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Swiss inflation data yesterday showed that the Swiss National Bank is in a comfortable position compared to its peers, but Swiss equity markets are clearly underperforming year-to-date. Strong earnings reports lifted US equities while markets also breathed a sigh of relief that the Fed meeting was less hawkish than feared. Oil and gold are both higher this morning as investors turn their attention to macroeconomic data releases later this afternoon. Tim Gagie, Head of FX & PM Solutions in Geneva, joins the show today to talk more about the latest currency moves.
00:00 Introduction by Helen Freer (Investment Writing)
00:21 Markets wrap-up by Lucija Caculovic (Investment Writing)
06:26 Currencies and metals by Tim Gagie (Head of FX & PM Solutions Geneva)
10:51 Closing remarks by Helen Freer (Investment Writing)

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After the US Fed announced a hold in interest rates as expected, Fed chair Powell said that fighting inflation was taking longer than expected but he poured cold water on speculation that the central bank’s next move would be to raise rates. Carsten Menke, Head of Next Generation Research, discusses the recent spike in the price of gold and assesses the impact of Chinese demand and central bank buying.
00:00 Introduction by Helen Freer (Investment Writing)
00:31 Markets wrap-up by Jonti Warris (Investment Writing)
06:17 Gold update by Carsten Menke (Head of Next Generation Research)
10:23 Closing remarks by Helen Freer (Investment Writing)
Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.