Moving Markets

Julius Baer

Moving Markets is the home of podcasts at Julius Baer. Here, our expert teams share concise daily market updates in ‘Moving Markets Daily’ which is complemented by ‘Moving Markets: The View Beyond’, a weekly show dedicated to discussing the context, thematic angles, and investment implications behind key topics shaping the news cycle and conversations among our relationship managers and clients.

The information contained in this podcast is marketing material. Opinions expressed do not constitute independent financial/investment research, investment advice, or an offer to buy or sell securities by Julius Baer. Please refer to www.juliusbaer.com/legal/podcasts for important legal information prior to listening to this podcast.

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1,058 episodes
Updated Yesterday

Episodes1058

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Aug 4, 2023 · 15 min
The Bank of England hikes too
The Bank of England is the latest major central bank to raise interest rates in the face of high inflation figures. Elsewhere, earnings reports are pushing equities in one direction or the other, but US non-farm payrolls are the main focus for investors today. In Asia, China has pledged further support for the private sector and capital markets, while Hong Kong opens its doors to crypto. Also joining today’s show is Tim Gagie, Head of FX & PM Solutions Geneva, who shares his thoughts on the Bank of England's latest decisions and other major developments in the FX markets. 00:14 Introduction by Helen Freer (Investment Writing) 00:38 Markets wrap-up by Lucija Caculovic (Investment Writing) 07:05 FX update by Tim Gagie (Head of FX & PM Solutions Geneva) 13:59 Closing remarks by Helen Freer (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Aug 3, 2023 · 8 min
Bank of Japan intervention for the second time this week
The Bank of Japan intervened in the bond market for the second time this week in an effort to slow gains in benchmark sovereign bond yields. ADP data showed private sector job gains in the US totalled 324,000 in July outstripping expectations, driven by a jump in the services sector. And Leonardo Pellandini, Equity Strategy Research, provides an update on how the Q2 earnings season is progressing. 00:14 Introduction by Helen Freer (Investment Writing) 00:35 Markets wrap-up by Jonti Warris (Investment Writing) 04:37 Q2 Earnings season update by Leonardo Pellandini (Equity Strategy Research) 07:41 Closing remarks by Helen Freer (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Aug 2, 2023 · 13 min
Fitch's US downgrade proves a blow to sentiment
Mixed US jobs data, a string of underwhelming earnings reports, another lower-than-expected reading on US manufacturing activity and Fitch's surprise downgrade of US sovereign debt are weighing on markets today. Dario Messi of Fixed Income Research comments on the latest twists and turns in the fixed income markets. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:58 Markets wrap-up by Roman Canziani (Head of Investment Writing) 06:26 Central Bank actions last week and this week by Dario Messi (Fixed Income Research) 12:30 Closing remarks by Bernadette Anderko (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 31, 2023 · 9 min
Markets focus on economic data and earnings
On this last day of July, investors this morning are still digesting last week’s central bank actions and assessing the latest supportive government measures from China. In commodities, oil – although trading lower this morning – is broadly supported and on track for its biggest monthly gain in over a year. In equities, more earnings reports and a slew of economic data releases could drive this week’s market action. Mensur Pocinci, our Head of Technical Analysis, joins today’s episode with his views on yields and equity markets. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:44 Markets wrap-up by Lucija Caculovic (Investment Writing) 05:17 Technical Analysis viewpoints by Mensur Pocinci (Head of Technical Analysis) 08:28 Closing remarks by Bernadette Anderko (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 28, 2023 · 15 min
Markets dominated by central banks
After the US Federal Reserve raised interest rates by a quarter of a percentage point and the European Central Bank followed suit, it was the Bank of Japan’s turn to announce its policy decisions this morning. While leaving its monetary policy unchanged, it signalled a loosening of its yield curve control, and this has caused volatility in the markets. Meanwhile, economic and labour market data from the US continues to signal strength, leading some to question whether the Fed will raise rates again. Tim Gagie, Head of FX & PM Solutions Geneva, also joins today’s show and he reports on the latest developments in FX markets with a focus on the currency calls from our Market Outlook campaign. 00:14 Introduction by Helen Freer (Investment Writing) 00:49 Markets wrap-up by Lucija Caculovic (Investment Writing) 07:35 Mid-Year Market Outlook - FX market update by Tim Gagie (Head of FX & PM Solutions Geneva) 14:34 Closing remarks by Helen Freer (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 27, 2023 · 14 min
It’s rate hike week
Yesterday the US raised rates by 25 basis points in line with market expectations, and gave no hints as to whether a further hike will take place on September 20th. Markets took the news in their stride and Asian stocks rallied this morning. Today it’s the ECB’s turn and they are also expected to raise rates by 25bps. With oil settling above USD 80 a barrel, Norbert Ruecker, Head of Macro and Next Generation Research, shares his thoughts on where the bullishness is coming from, and Nicolas Jordan updates us on the latest views from the CIO Office. 00:14 Introduction by Helen Freer (Investment Writing) 00:46 Markets wrap-up by Bernadette Anderko (Investment Writing) 06:28 Commodities update by Norbert Rücker (Head of Macro & Next Generation Research) 09:57 Update from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis) 12:50 Closing remarks by Helen Freer (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 26, 2023 · 11 min
Earnings results drive share prices ahead of key policy meetings
Earnings results from the big tech companies are keeping investors on their toes as they wait for more colour on the interest rate decisions due today in the US and tomorrow in the Eurozone. Dario Messi of Fixed Income Research talks us through his expectations and makes the case for peripheral eurozone sovereign debt. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:39 Markets wrap-up by Roman Canziani (Head of Investment Writing) 05:13 European Peripheral Government bonds by Dario Messi (Fixed Income Research) 10:33 Closing remarks by Bernadette Anderko (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 25, 2023 · 19 min
Latest data points to economic slowdown
The latest purchasing managers' indices for July from Europe and the US point to a slowdown in economic activity in both regions. Investors are now turning their attention to this week's interest rate decisions and any clues as to the future path of interest rates. In addition to economic data, earnings reports and corporate news are also driving equity markets. In the Asia-Pacific region, news that China is planning further stimulus measures has given hope and lifted stock prices in the region. Joining today's show are David Kohl, our Chief Economist, who revisits our currency calls from our Market Outlook campaign, and Mathieu Racheter, Head of Equity Strategy, who provides an update on the current earnings season. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:32 Markets wrap-up by Lucija Caculovic (Investment Writing) 05:26 Mid-year Market Outlook – currencies by David Kohl (Chief Economist) 15:05 Q2 Earnings season update by Mathieu Racheter (Head of Equity Strategy) 18:18 Closing remarks by Bernadette Anderko (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 24, 2023 · 10 min
Nasdaq ends down on big volumes while Europe sees some unexpected winners
The outcome of the Spanish elections came as a surprise and is causing uncertainty among investors. Equity markets have generally performed well of late, with the exception of the Nasdaq, which fell slightly on Friday on heavy volumes ahead of rebalancing. However, Mensur Pocinci, Head of Technical Analysis, remains positive on equities, and particularly the Nasdaq. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:49 Markets wrap-up by Roman Canziani (Head of Investment Writing) 05:34 Technical Analysis viewpoints by Mensur Pocinci (Head of Technical Analysis) 09:43 Closing remarks by Bernadette Anderko (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 21, 2023 · 11 min
US labour market continues to show strength
The US labour market continues to send out strong signals, which could be crucial for consumer spending and avoiding a recession this year. Meanwhile, disappointing results from some tech giants are weighing on the markets, raising the question of whether the recent rally has gone too far. Elsewhere, some commodity-related news is hitting the headlines, pushing commodity indices higher for the week. Manuel Villegas, from Next Generation Research, talks about Bitcoin’s supply mechanisms and what factors could start off Bitcoin’s next rally. 00:14 Introduction by Helen Freer (Investment Writing) 00:33 Markets wrap-up by Lucija Caculovic (Investment Writing) 06:01 Digital assets by Manuel Villegas (Next Generation Research) 10:11 Closing remarks by Helen Freer (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 20, 2023 · 9 min
Netflix and Tesla spoil the after markets party
European stocks closed higher yesterday after UK inflation came in at its lowest level in 15 months. US markets also closed higher but futures fell stateside after both Tesla (record quarterly revenue but lower margins) and Netflix (revenue miss) reported Q2 results. In Asia, the People’s Bank of China surprised traders as it stepped in harder than expected to support the yuan, and Japan delivered its first trade surplus in nearly two years. Carsten Menke, Head of Next Generation Research, explains the impact of China’s recent data releases on the industrial metals market. 00:14 Introduction by Helen Freer (Investment Writing) 00:41 Markets wrap-up by Bernadette Anderko (Investment Writing) 05:52 Industrial metals and China by Carsten Menke (Head of Next Generation Research) 08:37 Closing remarks by Helen Freer (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 19, 2023 · 12 min
Stocks are up and yields are down as risk-on sentiment takes over
After a somewhat sluggish start to the month, equities and bonds have picked up momentum in recent sessions, driven by positive earnings reports and lower yields. Dario Messi from our Fixed Income Research department explains why he remains positive on one of our core ideas in a risk-on environment: emerging market hard currency bonds. 00:14 Introduction by Bernadette Anderko (Investment Writing) 01:00 Markets wrap-up by Roman Canziani (Head of Investment Writing) 05:47 Impact of China’s stuttering economy on emerging market bonds by Dario Messi (Fixed Income Research) 11:02 Closing remarks by Bernadette Anderko (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 18, 2023 · 11 min
Asia-Pacific markets mixed after downgrade to China's growth forecast
US markets closed higher on Monday with the technology, financials and industrials sectors outperforming. Asia Pacific markets are mixed this morning, as China's sluggish economic recovery has led to a downgrade in growth forecasts. In response, China has unveiled an 11-point package of measures to support household spending. Microsoft has moved closer to completing its USD 69 billion acquisition of Activision but the deal is not likely to close by today’s deadline. Thomas Caflisch, our Head of FX & PM Solutions, provides an update on the currency markets and Leonardo Pellandini, from the Equity Strategy Research team, reviews the Q2 earnings season so far. 00:14 Introduction by Helen Freer (Investment Writing) 00:44 Markets wrap-up by Alexander Petersen (Investment Writing) 04:34 FX update by Thomas Caflisch (Head of FX & PM Solutions) 06:50 Q2 earnings season by Leonardo Pellandini (Equity Strategy Research) 10:03 Closing remarks by Helen Freer (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 17, 2023 · 10 min
The USD’s worst week for eight months
In a week full of optimism that the Fed was getting closer to ending its rate hikes, global equities rallied. The USD could not hold its own and sold off sharply last week. China's Q2 growth figures out this morning disappoint and are weighing on local equities. In the US, the Q2 earnings season has kicked off in earnest, with the big US banks surprising on the upside on Friday. UnitedHealth's strong results are an encouraging sign for the defensive healthcare sector, which is lagging this year. More than 150 companies will report this week. Mensur Pocinci, our Head of Technical Analysis, notes that the USD has broken major support levels. 00:14 Introduction by Helen Freer (Investment Writing) 00:38 Markets wrap-up by Mike Rauber (Investment Writing) 06:06 Technical Analysis viewpoints by Mensur Pocinci (Head of Technical Analysis) 09:46 Closing remarks by Helen Freer (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 14, 2023 · 11 min
A successful week for equities
Global equities are heading for their best weekly gains since November last year after another set of lower than expected US inflation data. In Asia, optimism over policy support in China as well as the easing of some restrictions on artificial intelligence is supporting markets. Currencies have also seen some movement this week, with the US Dollar Index struggling. David Kohl, our Chief Economist, shares his views on the latest US data and the likely path of the Federal Reserve. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:33 Markets wrap-up by Lucija Caculovic (Investment Writing) 04:59 Assessment of recent US data and Fed’s likely path now by David Kohl (Chief Economist) 10:00 Closing remarks by Bernadette Anderko (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 13, 2023 · 13 min
Fed Funds Rate exceeds inflation for the first time in a long time
US equities rose, bond yields fell, gold advanced, and the US dollar dropped after US inflation data showed that core inflation fell to 4.8%. The lower inflation means that the real (inflation-adjusted) Fed Funds rate has turned positive for the first time in this economic cycle. Norbert Rücker, Head of Macro & Next Generation Research, talks about the clean energy investment theme, noting that it has become a victim of its own success. Nicolas Jordan, CIO Strategy & Investment Analysis, discusses the strong performance of the Magnificent 7 this year, highlighting that the rise of technology stocks is creating a positive performance backdrop for the broader equity market. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:33 Markets wrap-up by Mike Rauber (Investment Writing) 05:37 Clean Energy downgraded to Neutral by Norbert Rücker (Head of Macro & Next Generation Research) 08:52 Update from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis) 11:54 Closing remarks by Bernadette Anderko (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 12, 2023 · 10 min
Markets steady ahead of US CPI data release
US markets closed higher on Tuesday with the S&P 500 seeing Energy, Utilities & Industrials all outperforming. Asia Pacific markets were mixed, with Japan's Nikkei 225 trading lower and China's CSI 300 down 0.4% this morning, a sign that local investors would like to see more stimulus to support the ailing economy. Microsoft moved closer to completing its USD 69 billion bid for Activision. Dario Messi of the Fixed Income team highlights our strategy for investing in longer dated bonds and looks ahead to the release of US CPI data and the next FOMC meeting. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:35 Markets wrap-up by Alexander Petersen (Investment Writing) 04:16 Strategy for adding duration to a portfolio by Manuel Villegas (Next Generation Research) 09:38 Closing remarks by Bernadette Anderko (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 11, 2023 · 10 min
China’s pledge to support property sector buoys markets
China has signalled that it will extend a number of policies and concrete economic support measures to support its ailing real estate sector. Asian markets are trading higher on the news today. And we hear from Manuel Villegas, Next Generation Research, who talks to us about digital assets and provides an update on Solana. 00:14 Introduction by Helen Freer (Investment Writing) 00:32 Markets wrap-up by Jonti Warris (Investment Writing) 06:15 Digital assets update update by Manuel Villegas (Next Generation Research) 09:05 Closing remarks by Helen Freer (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 10, 2023 · 11 min
A heavy data week gets underway
US markets closed lower on the day and the week on Friday after non-farm payrolls data indicated that the Fed might raise rates at their forthcoming July meeting. Inflation data coming on Thursday and Friday will complete the final piece of the rate-hike puzzle. Meanwhile China’s disappointing CPI/PPI data this morning has heightened expectations of more monetary policy support being required. As the Q2 earnings season is set to kick-off, hear what our Head of Technical Analysis, Mensur Pocinci, has to say about the prospects for the US equity and bond markets. 00:14 Introduction by Helen Freer (Investment Writing) 00:35 Markets wrap-up by Bernadette Anderko (Investment Writing) 06:09 Technical analysis update by Mensur Pocinci (Head of Technical Analysis) 10:30 Closing remarks by Helen Freer (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
Jul 7, 2023 · 19 min
Equity investors throw in the towel on strong jobs data
Equity markets have suffered steep losses in recent hours on the back of better-than-expected private employment data - today's official US non-farm payrolls report for June is likely to shed further light on the resilience of the US economy. Tim Gagie, our Head of FX & PM Solutions Geneva, shares his thoughts on how these figures could impact currencies and metals. And Kelly Chia, Deputy Head of Research Asia, talks about where he sees the best investment opportunities in Asian equity markets at the moment. 00:14 Introduction by Helen Freer (Investment Writing) 00:44 Markets wrap-up by Roman Canziani (Investment Writing) 06:54 FX update by Tim Gagie (Head of FX & PM Solutions Geneva) 12:32 Market Outlook Mid-Year 2023 deep-dive – Asian Equities by Kelly Chia (Deputy Head of Asia Research) 18:15 Closing remarks by Helen Freer (Investment Writing) Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.