Moving Markets

Markets remained on edge as ongoing uncertainty around a potential US–Iran agreement drove a clear risk‑off tone. European equities moved broadly lower, while US indices pulled back after briefly touching record highs, weighed down by weakness in technology and semiconductors. Oil prices proved volatile but ultimately rebounded, with both Brent and WTI holding elevated levels, while gold edged higher. In fixed income, US yields ticked up as investors reassessed inflation risks linked to energy markets. Central banks painted a mixed picture, with Norway surprising to the upside on rates, while Sweden held steady. In Asia, markets were mostly weaker, though South Korea’s strong outperformance continued. Today we were joined by Tim Gagie, Head of FX Advisory in Geneva, who shared the latest insights on currencies and metals, discussing gold, the ongoing US dollar weakness, and the yen intervention.

(00:00) - Introduction: Helen Freer, Product & Investment Content

(00:28) - Markets wrap-up: Lucija Caculovic, Product & Investment Content

(07:01) - FX & metals update: Tim Gagie, Head of FX/PM PB Geneva

(10:53) - Closing remarks: Helen Freer, Product & Investment Content

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.

Hopes grew yesterday that the US and Iran might be able to seal a deal to end the conflict, with a memorandum of understanding apparently having been sent by the US to Iran. The oil price dropped and with it so did bond yields. Meanwhile, global stock markets continued to rally and were given a further boost by artificial intelligence firms and yet more good news from earnings calls. Norbert Rücker, Head of Economics & Next Generation Research, joins the podcast to explain why he believes that the Strait of Hormuz may lose its strategic importance in the future, as shifts in the oil market that have developed throughout this crisis might well prove to be lasting. Tune in to find out more.

(00:00) - Introduction: Helen Freer, Product & Investment Content

(00:25) - Markets wrap-up: Bernadette Anderko, Product & Investment Content

(05:45) - Energy market update: Norbert Rücker, Head of Economics & Next Generation Research

(11:18) - Closing remarks: Helen Freer, Product & Investment Content

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.

Semiconductor stocks, from Intel to Samsung Electronics, are pushing US and Asian equities to new all‑time highs. Strong earnings from Anheuser‑Busch and Unicredit also lifted European markets. US services activity slowed in April, while inflation pressures stayed elevated. UK yields surged on inflation and fiscal concerns, Swiss data showed higher headline but subdued core inflation, and PMIs in China and India pointed to resilience. The JPY continues to strengthen after last week’s lows, likely reflecting FX intervention. Nenad Dinic, Equity Strategy Research, notes while European earnings are rising, the momentum is weaker than in the US where all sectors are showing earnings growth.

(00:00) - Introduction: Helen Freer, Product & Investment Content

(00:28) - Markets wrap-up: Mike Rauber, Product & Investment Content

(06:41) - Earnings season update: Nenad Dinic, Equity Strategy Research

(11:37) - Closing remarks: Helen Freer, Product & Investment Content

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.

After several days of solid gains, markets paused yesterday as risk aversion returned, driven by escalating tensions in the Middle East and a sharp rise in oil prices. European equities bore the brunt of the sell-off, while major US indices also closed lower. In today’s episode, we’re joined by Carsten Menke, Head of Next Generation Research, to unpack the outlook for hyperscalers following last week’s earnings, and what it means for the road ahead.

(00:00) - Introduction: Bernadette Anderko, Product & Investment Content

(00:34) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content

(06:33) - Hyperscaler capex and revenues: Carsten Menke, Head of Next Generation Research

(10:37) - Closing remarks: Bernadette Anderko, Product & Investment Content

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.

Geopolitics continues to dominate as investors weigh mixed Middle East messages. Trump has signalled his openness to Iran talks while also warning of renewed conflict and saying the US will begin guiding ships through the Strait of Hormuz. Global equities are rallying on AI optimism and strong tech earnings, even as central banks stay cautious amid uneven growth and sticky inflation. A pivotal week of earnings and data lies ahead. Mensur Pocinci, Head of Technical Analysis, discusses a potential topping process in oil and why technicals suggest the correction in US equities may be ending.

(00:00) - Introduction: Helen Freer, Product & Investment Content

(00:55) - Markets wrap-up: Jan Bopp, Product & Investment Content

(06:07) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis

(08:46) - Closing remarks: Helen Freer, Product & Investment Content

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.