Moving Markets

Global equities traded lower as oil prices surged in response to escalating tensions in the Middle East, while renewed concerns over AI-related capital expenditure weighed on investor sentiment. Although the European Central Bank left interest rates unchanged, expectations of further policy tightening later this year have strengthened, pushing bond yields higher across major markets. In today's episode, Tim Gagie, Head of FX Advisory in Geneva, shares his insights on the latest developments in foreign exchange and metals markets, and what they could mean for investors.

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

(00:27) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content

(06:30) - FX & metals update: Tim Gagie, Head of FX / Portfolio Management, Private Banking Geneva

(11:44) - Closing remarks: Helen Freer, Product & Investment Content

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Oil prices continue to surge as tensions between the US and Iran raise concerns about global energy supplies and economic growth. There were knock-on effects in bond markets with the 10-year US Treasury yield rising to a two-month high. Alphabet and Tesla were the first of the Magnificent 7 stocks to report earnings after the bell yesterday – both stocks fell in extended trading. At the European Central Bank meeting later today interest rates are expected to be held steady. Mathieu Racheter, Head of Equity Strategy Research, joins the show to provide an update on the Q2 earnings season so far and explains why the investment case for US banks remains.

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

(00:41) - Markets wrap-up: Helen Freer, Product & Investment Content

(07:26) - Earnings season update: Mathieu Racheter, Head of Equity Strategy Research

(10:53) - 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.

Markets faced a fresh wave of geopolitical risk as the conflict involving the US, Iran and the Houthis escalated, pushing oil prices higher. Yet equities remained resilient, with positive corporate earnings and strength in semiconductors helping offset investor concerns. Elsewhere, the US announced a 50% tariff on a broad range of Canadian imports, Japan's yen weakened beyond 163 against the dollar despite intervention warnings, and competition intensified in the obesity drug market as Novo Nordisk sued Eli Lilly. Investors now await results from Alphabet and Tesla while continuing to monitor developments in the Middle East. We are also joined by Dario Messi, Head of Fixed Income Research, to discuss what to expect from tomorrow's ECB meeting and whether higher oil prices could prompt the ECB to adopt a more hawkish stance.

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

(00:48) - Markets wrap-up: Lucija Caculovic, Product & Investment Content

(07:56) - Fixed income update: Dario Messi, Head of Fixed Income

(11:07) - Closing remarks: Jan Bopp, Product & Investment Content

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Burnham's debut, bond market jitters and the future of AI in BioPharma Markets were relatively quiet yesterday, but developments in the UK drew investor attention. Prime Minister Andy Burnham's policy announcements sparked concerns over the fiscal outlook, sending gilt yields higher, while John Healey's appointment as Chancellor raised fresh questions about economic policy. Meanwhile, semiconductor stocks rebounded, and oil prices swung sharply. Damien Ng from our Next Generation Research team joins us to discuss why AI's impact on BioPharma is likely to unfold over the coming years, rather than quarters.

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

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

(07:08) - Genomics: Damien Ng, Next Generation Research

(13:21) - Closing remarks: Helen Freer, Product & Investment Content

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Semiconductor stocks have plunged more than 20% from their recent highs, officially entering bear market territory after China’s Moonshot launched its Kimi K3 model sparking fears of intensifying global competition. Amid rising concerns over stretched valuations, geopolitical risks, and a critical earnings week ahead – including reports from Alphabet, SK Hynix, and Tesla – markets stand at a crossroads. Mensur Pocinci, Head of Technical Analysis, explains why the long-term uptrend of semiconductors remains intact despite the sell-off and what this means for broader equity markets.

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

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

(06:38) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis

(09:13) - 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.