Moving Markets

The Bank of England and the European Central Bank both kept rates unchanged yesterday, signalling a cautious but data‑dependent stance even as inflation trends diverge on either side of the Channel. European equities finished broadly lower on the back of a busy earnings day, while in the US a third straight sell‑off pushed the S&P 500 into negative territory for the year. Crypto joined the risk‑off trend, while silver remained the standout story in commodities after back‑to‑back plunges and an overnight rebound that left volatility high. In corporate news, Rio Tinto and Glencore scrapped their merger discussions. Today we are joined by Richard Tang, Head of Research Hong Kong, for an update on Asian tech stocks, and by Tim Gagie, Head of FX Advisory in Geneva, for the latest on metals and currencies.

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

(00:35) - Markets wrap-up: Lucija Caculovic, Product & Investment Content

(08:30) - Asia equity update: Richard Tang, Head of Research Hong Kon

(15:49) - FX & metals update: Tim Gagie, Head of FX/PM PB Geneva g

(20:27) - 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.

The Bank of England and the European Central Bank both kept rates unchanged yesterday, signalling a cautious but data‑dependent stance even as inflation trends diverge on either side of the Channel. European equities finished broadly lower on the back of a busy earnings day, while in the US a third straight sell‑off pushed the S&P 500 into negative territory for the year. Crypto joined the risk‑off trend, while silver remained the standout story in commodities after back‑to‑back plunges and an overnight rebound that left volatility high. In corporate news, Rio Tinto and Glencore scrapped their merger discussions. Today we are joined by Richard Tang, Head of Research Hong Kong, for an update on Asian tech stocks, and by Tim Gagie, Head of FX Advisory in Geneva, for the latest on metals and currencies.

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

(00:35) - Markets wrap-up: Lucija Caculovic, Product & Investment Content

(08:30) - FX & metals update: Tim Gagie, Head of FX/PM PB Geneva

(15:49) - Asia equity update: Richard Tang, Head of Research Hong Kong

(20:27) - 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.

Earnings and Big Tech remain in focus, with Alphabet beating Wall Street’s expectations but causing some investors to take flight in the wake of projected capex spending. The rotation out of tech stocks continued on Wednesday - the Nasdaq Composite dropped 1.5%. China’s Hong Kong-listed technology stocks slid overnight with the Hang Seng Tech Index now 20% below its October peak. The threat of VAT increases being imposed on internet platforms exacerbated the move. The ECB and the Bank of England are both expected to keep rates on hold today. With investors hypnotised by swings in gold and silver prices this year, it’s easy to lose sight of oil and natural gas markets.  In light of the current geopolitical tensions impacting these markets, Norbert Rücker, Head of Economics and Next Generation Research joins the podcast to put things in perspective.

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

(00:38) - Markets wrap-up: Bernadette Anderko, Product & Investment Content

(05:58) - Oil and Gas: Norbert Rücker, Head of Macro & Next Generation Research

(12:01) - 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.

The rotation out of technology stocks continued, with software shares selling off on AI‑disruption concerns, while cyclical stocks outperformed. WalMart reached a USD 1 trillion market‑cap milestone. German long‑dated yields hit their highest level since 2011 as heavy issuance lifted supply. Precious metals remain volatile but rebounded sharply, while Brent oil rises on Middle East tensions. In earnings, Novo Nordisk expects sales to fall this year due to pricing pressure. Afonso Borges from Fixed Income Research outlines developments in the US fixed income market and our Overweight stance on duration. Nenad Dinic from Equity Strategy provides an update on the earnings season and the outperformance of emerging‑market equities this year.

(00:00) - Introduction: Jan Bopp, Product & Investment Content

(00:51) - Markets wrap-up: Mike Rauber, Product & Investment Content

(07:08) - Update on US Federal Reserve: Afonso Borges, Fixed Income Research

(11:48) - Earnings season and EM update: Nenad Dinic, Equity Strategy Research

(18:34) - Closing remarks: Jan Bopp, 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 deep slump at the open, market sentiment turned and equity markets swung sharply into positive territory, while precious metals — which had been under intense pressure — began to claw back recent losses in the hours that followed. In the US, tech favourite Palantir impressed after the close with stronger than expected results. And looking ahead, Carsten Menke, Head of Next Generation, shares his perspective on what the recent volatility means for precious metals and the path forward.

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

(00:28) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content

(05:13) - Making sense of the precious metals sell-off: Carsten Menke, Head of Next Generation Research

(09:48) - 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.