Moving Markets

In an environment marked by higher inflation, geopolitical uncertainty and increased market volatility, private infrastructure is regaining focus as a resilient allocation.
In this episode of Moving Markets: The View Beyond, William Fong, Head of Alternatives Specialists Asia & Middle East at Julius Baer, speaks with Daniel McCormack, Head of Research at Macquarie Asset Management's Client Solutions Group, about the shifting global macro landscape and how private infrastructure can play a vital dual role in portfolios - providing resilience through inflation linkage and essential services, while positioning investors for long‑term growth driven by digitalisation, AI‑led data demand, the energy transition and evolving supply chains.

(00:00) - Introduction

(01:16) - The shifting global macro landscape

(03:37) - Why private infrastructure matters in an age of volatility

(04:45) - Infrastructure sub-sectors that look promising

(06:40) - Macquarie's infrastructure origins

(09:21) - Opportunities in debt investment

(11:05) - Inflation-hedging properties of infrastructure

(13:15) - Private vs public infrastructure

(14:59) - Opportunities in the transport sector

(17:22) - The inflationary impact of shifting supply chain dynamics

(18:48) - Digitalisation, AI and data

(20:23) - Is AI in a bubble?

(23:29) - The growing energy demand

(26:04) - Rising power prices and inflation

(27:43) - Is it too late to get into infrastructure?

(31:38) - Closing

Global markets sent mixed signals as US data pointed to surprising resilience, while the eurozone slipped back into contraction. Rising energy prices remain a key concern, driving inflation pressures and weighing on confidence. Equity markets reflected this caution yesterday, with US tech stocks pulling back as several software names underperformed after reporting earnings. Meanwhile, signs of Swiss National Bank FX intervention are emerging, while oil prices continue to climb and gold has moved lower. Asia‑Pacific markets were mostly weaker, with Japan the notable exception following firmer inflation data ahead of next week’s Bank of Japan meeting. Joining our show today is Tim Gagie, Head of FX Advisory in Geneva, with the latest insights on currencies and metals.

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

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

(07:18) - FX & metals update: Tim Gagie, Head of FX/PM PB Geneva

(11:36) - Closing remarks: Helen Freer, Product & Investment Content

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New record highs were set in the US trading session on Wednesday as markets embraced the ceasefire extension and more strong Q1 earnings. But despite Asian markets rallying at the open, they failed to hold onto their gains as investors’ focus returned to the fact that the Strait of Hormuz effectively remains closed for business. As EU leaders meet to discuss how to address the energy price shock, Norbert Rücker, Head of Economics & Next Generation Research, explains why he believes that Europe’s energy resilience is overlooked – not only is the continent exiting the heating season but drivers are increasingly refuelling their cars with electricity rather than petrol. Tune in to find out more!

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

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

(06:13) - Energy market update: Norbert Rücker, Head of Economics & Next Generation Research

(09:32) - 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.

Geopolitical tensions and a late ceasefire extension kept markets on edge. Equities were lower in Tuesday’s trading session as stocks ended near session lows. Strong nominal US retail sales and upbeat earnings clashed with fading optimism. Afonso Borges, Fixed Income Strategist, shares his takeaways from Fed Chair-to-be Kevin Warsh’s Senate hearing and the implications for bond markets. Mathieu Racheter, Head of Equity Strategy Research, also joins the show to provide an update on the ongoing earnings season and outline what investors should be watching in the weeks ahead.

(00:00) - Introduction: Roman Canziani, Head of Product & Investment Content

(00:52) - Markets wrap-up: Jan Bopp, Product & Investment Content

(06:38) - Fixed income strategy update: Afonso Borges, Fixed Income Research

(12:38) - Reporting season update - bank earnings: Mathieu Racheter, Head of Equity Strategy Research

(16:48) - Closing remarks: Roman Canziani, Head of 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 a brief bout of optimism on Friday, concerns over a potential escalation between the US and Iran swiftly re-emerged yesterday. Oil prices climbed by around 5%, while equity markets came under pressure. Europe’s broad indices fell by roughly 0.8%, and all major U.S. indices closed slightly lower, with the Nasdaq snapping a 14-session winning streak. In today’s episode, we are joined by Carsten Menke, Head of Next Generation Research, who shares his insights on silver.

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

(01:05) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content

(06:58) - What we learned from the World Silver Survey: Carsten Menke, Head of Next Generation Research

(10:34) - 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.