Moving Markets

Markets reacted sharply after a divided US Federal Reserve opted to leave interest rates unchanged yesterday. The decision triggered a notable steepening of the Treasury yield curve, with 2-year yields edging lower while 30-year yields moved materially higher. US equities also came under pressure, with major stock indices posting significant declines. However, sentiment improved after the closing bell when despite Meta disappointing investors with weaker profit results, Microsoft reported stronger-than-expected earnings. In today's episode, Afonso Borges from our Fixed Income Research team unpacks the Fed's latest decision, explains the market reaction, and discusses what it could mean for investors in the months ahead.

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

(00:45) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content

(06:29) - Analysis of FOMC meeting: Afonso Borges, Fixed Income Research

(12:24) - 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.

A sharp market rotation took centre stage on Tuesday as investors moved out of chipmakers and into healthcare and financial stocks, pushing both sectors to fresh record highs. Even blockbuster results from AI memory leader SK Hynix failed to ease concerns, extending the sell-off in semiconductor stocks ahead of a crucial week for Big Tech earnings. With the Federal Reserve set to announce its latest interest rate decision today, markets are bracing for the next major catalyst. Dario Messi, Head of Fixed Income Research, shares his expectations for the Fed’s decision and what it could mean for investors. We also speak with Mathieu Racheter, Head of Equity Strategy Research, for the latest insights into the Q2 earnings season.

(00:00) - Introduction: Lucija Caculovic, Product & Investment Content

(00:38) - Markets wrap-up: Jan Bopp, Product & Investment Content

(07:20) - Fed preview: Dario Messi, Head of Fixed Income

(11:07) - Q2 earnings season: Mathieu Racheter, Head of Equity Strategy

(16:04) - Closing remarks: Lucija Caculovic, 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.

Middle East tensions remain elevated despite a pause in US air strikes on Iran, which seems to have held overnight. European markets were flat overall yesterday, with the German DAX outperforming the other major indices. US markets were mixed as falling oil prices supported sentiment, but concerns over geopolitics and tech valuations weighed on semiconductor stocks. Asian technology shares are sliding today; South Korea's Kospi is the worst-performing index in the region, down nearly 11%. Investors are now focused on the Fed meeting that concludes tomorrow and major earnings releases from Microsoft, Meta, Amazon, and Apple later this week. Dr. Damien Ng, Next Generation research analyst, also joins the show today to talk about what the growing focus on gut health means from an investment perspective.

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

(00:38) - Markets wrap-up: Helen Freer, Product & Investment Content

(06:46) - Gut health matters: Damien Ng, Next Generation Research

(15:03) - 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.

Markets are starting the week on a firmer footing as a pause in Middle East hostilities pushes oil prices lower and eases inflation concerns. The move follows a cautious week for investors, with concerns about AI spending, rising bond yields and escalating geopolitical tensions weighing on sentiment. Most major US equity indices ended the week lower, while European equities proved relatively resilient and both Japanese and Chinese markets posted gains. Attention now turns to a pivotal week featuring the Federal Reserve's policy decision, key US economic releases, and earnings releases from Microsoft, Meta, Apple and Amazon. Joining us today is Mensur Pocinci, Head of Technical Analysis, who shares his views on market concentration in US equities, the importance of diversification and the recent pullback in momentum stocks.

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

(00:41) - Markets wrap-up: Lucija Caculovic, Product & Investment Content

(07:15) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis

(10:33) - 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.

As Europe faces increasingly frequent and severe heatwaves, the implications extend far beyond discomfort. The rising temperatures are creating urgent challenges with regard to public health, economic resilience, and urban infrastructure. What does a warmer world mean for the way we live, work, and invest?
In this episode, Helen Freer is joined by Dr. Damien Ng, an analyst in Julius Baer’s Next Generation research team, to discuss how higher global temperatures are reshaping the risk landscape for populations and investors alike. The conversation explores how heatwaves are becoming a major public health concern, the mounting pressure on healthcare systems, and the economic impact of extreme heat. Dr. Ng also explains the concept of urban heat islands, and how innovations like sponge cities can help build resilience.

(00:00) - Introduction

(00:57) - Why heatwaves are a growing public health concern

(02:24) - Understanding the concept of excess deaths during heatwaves

(04:11) - The role of human-induced climate change

(05:29) - Implications for healthcare systems in Europe

(06:39) - The economic impact of heatwaves and other climate-related disasters

(07:41) - The heat island effect in cities

(08:46) - How sponge cities can build resilience

(09:47) - Investments needed to handle a hotter climate

(11:04) - The link between climate resilience and longevity

(11:20) - Key takeaways

(11:54) - Closing remarks

(12:28) - Legal information

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.