Moving Markets

Markets largely dipped yesterday as geopolitical tensions, rising oil prices and disappointing guidance from Walmart weighed on investor sentiment. After yields fell on Wednesday following the announcement from the US Treasury of doubling buybacks of longer-term debt, yesterday they resumed their upward trend, even after Treasury Secretary Bessent suggested further increases to the buyback programme. Tim Gagie, Head of FX Advisory in Geneva, joins the show today to talk about the impact of the Treasury’s announcement on the US dollar, and he also shares his latest thoughts on precious metals.

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

(00:31) - Markets wrap-up: Helen Freer, Product & Investment Content

(05:45) - FX & metals update: Tim Gagie, Head of FX & Precious Metals Sales Geneva

(10:21) - Closing remarks: Bernadette Anderko, Product & Investment Content

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The US Treasury provided a boost to bond and equity markets yesterday, announcing that it will more than double repurchases of 10, 20, and 30-year debt in the next few months. This saw the long bond yield fall 10 bps from its 19-year high on Tuesday, to 5.184%. Gold had its best day since March. US stock markets also closed up on the day with Moderna and Merck providing a boost. Asian equity markets continued the rally overnight and the KOSPI leapt over 6% after SK Hynix announced a big stock buyback. Carsten Menke, Head of Next Generation Research, joins the podcast today to talk about gold and silver. Tune in to find out what he believes has been driving the August rally, and whether he thinks it can continue from here.

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

(00:28) - Markets wrap-up: Bernadette Anderko, Product & Investment Content

(06:49) - Gold and silver: Carsten Menke, Head of Next Generation Research

(11:21) - 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.

A global bond sell-off sent yields to multi-year highs, dragging equities lower as tech stocks bore the brunt amid persistent inflation concerns. Yet Bank of America's fund manager survey reveals remarkably bullish positioning, with investors reducing cash and piling into equities on hopes of a soft landing and faith in the AI boom. Dario Messi, Head of Fixed Income Research, shares his views on the latest bond selloff and the drivers behind the move. We also speak with Nenad Dinic from our Equity Strategy Research team about European equities and where he sees opportunities in the region as we head into year end.

(00:00) - Introduction: Mike Rauber, Product & Investment Content

(00:48) - Markets wrap-up: Jan Bopp, Product & Investment Content

(07:04) - Fixed income amid higher long-term US Treasury yields: Dario Messi, Head of Fixed Income

(10:35) - European cyclicals: Nenad Dinic, Equity Strategy Research

(15:24) - Closing remarks: Mike Rauber, Product & Investment Content

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Higher oil prices and rising bond yields weighed on equity markets, pushing global stocks lower at the start of the week. US Treasury yields remained in focus as strong corporate bond issuance added to concerns over US fiscal deficits. Meanwhile, artificial intelligence remained a standout theme, with Anthropic's rapid growth boosting sentiment across the sector. Enrico Chinello, Next Generation Research, takes a closer look at AI, noting that record investment by hyperscalers and institutional investors continues to support strong demand for AI infrastructure. Investors are increasingly focused on when that spending will translate into earnings and cash flow.

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

(00:27) - Markets wrap-up: Mike Rauber, Product & Investment Content

(06:08) - Institutional investing in Artificial Intelligence: Enrico Chinello, Next Generation Research

(11:06) - 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.

Global market performance was mixed last week, with Japanese equities emerging as the standout winner, driven by strong gains in technology and semiconductor stocks. Meanwhile, oil prices surged around 6% amid renewed geopolitical tensions, and longer-term government bond yields moved higher despite softer-than-expected signals from US inflation and consumer data. In this episode, we are joined by Mensur Pocinci, Head of Technical Analysis, who shares his latest insights on the recent weakness in both the US dollar and the Swiss franc. He also explains why he remains constructive on precious metals and discusses the key market trends investors should be watching in the weeks ahead.

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

(01:16) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content

(07:03) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis Research

(09:53) - 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.