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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Jun 8, 2023 · 10 min
Bank of Canada’s surprise hike spooks markets
The Bank of Canada joined the Reserve Bank of Australia by resuming rate hikes yesterday. Following the surprise 25-basis-point hike, US Treasury bonds sold off. India’s government bonds also sold off despite the central bank there not hiking rates, but the Sensex stock index is heading towards record highs. Japan’s government bond yields also rose following news that Japan’s economy grew an annualised 2.7% in Q1 this year, higher than the expected 1.9%. Our Head of Next Generation Research, Carsten Menke, joins the show to update us on the iron ore market, and Nicolas Jordan, from the CIO Strategy & Investment Analysis team, provides the latest thoughts from our Investment Committee. 00:14 Introduction by Helen Freer (Investment Writing) 00:44 Markets wrap-up by Bernadette Anderko (Investment Writing) 03:34 Iron ore update by Carsten Menke (Head of Next Generation Research) 06:43 Update from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis) 09:18 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.
Jun 7, 2023 · 8 min
China in the spotlight this morning
Straight after the Chinese authorities asked the country’s largest banks to lower their deposit rates, China’s trade data disappointed, with both imports and exports falling. But at least there is some positive geopolitical news as US Secretary of State Antony Blinken plans to visit China. Meanwhile, US equities enjoyed some support yesterday, with the S&P 500 closing at its highest level in 2023. Mathieu Racheter, Head of Equity Strategy, joins today’s episode to explain why we still love IT stocks. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:29 Markets wrap-up by Lucija Caculovic (Investment Writing) 04:24 Why we still love IT stocks by Mathieu Racheter (Head of Equity Strategy) 07:47 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.
Jun 6, 2023 · 16 min
US regulator files a lawsuit against crypto exchange Binance
The US Securities and Exchange Commission has sued cryptocurrency exchange Binance and its CEO Changpeng Zhao for US securities violations. Our Chief Economist David Kohl talks about the risk of a recession in the US, and Manuel Villegas, Next Generation Research, provides an update on the digital assets space. 00:14 Introduction by Helen Freer (Investment Writing) 00:42 Markets wrap-up by Jonti Warris (Investment Writing) 04:48 What’s the chance of a US recession? by David Kohl (Chief Economist) 11:32 Digital assets update by Manuel Villegas (Next Generation Research) 15:13 Closing remarks by Helen Freer (Investment Writing)
Jun 5, 2023 · 8 min
US equity outperformance resumes
US equities gained on Friday on the back of the deal to raise the debt ceiling and a mixed bag of economic reports that suggested the Federal Reserve would hold off on raising interest rates at its June meeting. Saudi Arabia said it would cut oil production by an additional 1 million barrels per day after the OPEC+ meeting, while Turkey has a new market-friendly finance minister. Mensur Pocinci, Head of Technical Analysis Research, points out that the outperformance of US equities has continued and become more broad-based. 00:14 Introduction by Helen Freer (Investment Writing) 00:36 Markets wrap-up by Mike Rauber (Investment Writing) 05:24 Technical analysis update by Mensur Pocinci (Head of Technical Analysis) 07:38 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.
Jun 2, 2023 · 15 min
Stocks rally on renewed economic optimism and debt ceiling resolution
Although this week's employment data was generally stronger and US manufacturing remains under pressure, equities and bonds broadly rallied yesterday as the outlook for central banks pausing on interest rate hikes brightened. Tim Gagie, Head of FX & PM Solutions Geneva, talks about how this could affect the US dollar, and Carsten Menke, Head of Next Generation Research, has a guess as to which digital assets will dominate going forward. 00:14 Introduction by Helen Freer (Investment Writing) 00:36 Markets wrap-up by Roman Canziani (Head of Investment Writing) 06:03 FX update by Tim Gagie (Head of FX & PM Solutions Geneva) 10:02 Digital assets update by Carsten Menke (Head of Next Generation Research) 14:07 Closing remarks by Helen Freer (Investment Writing)
Jun 1, 2023 · 11 min
Debt ceiling bill passes in the House with broad bipartisan support
The US House of Representatives passed a bill late yesterday to suspend the USD 31.4 trillion debt ceiling. The bill will now pass to the Senate just days before Monday’s US default deadline. Norbert Rücker, Head of Macro & Next Generation Research, provides us with an update on oil, and Nicolas Jordan, from the CIO Strategy & Investment Analysis team, shares the latest thoughts of our CIO’s Investment Committee. 00:14 Introduction by Helen Freer (Investment Writing) 00:43 Markets wrap-up by Jonti Warris (Investment Writing) 05:05 Oil update by Norbert Rücker (Head of Macro & Next Generation Research) 08:22 Update from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis) 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.
May 31, 2023 · 9 min
Weak Chinese PMI prompts market selloff
China's economic recovery weakened in May as manufacturing activity slumped, prompting investors to sell stocks and call for more stimulus to boost growth. UK business confidence fell for the first time in three months as faster-than-expected inflation figures weighed on firms' sentiment about the economy. Eirini Tsekeridou from Fixed Income Research provides insight into our views on both Greek and other eurozone sovereign bonds. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:43 Markets wrap-up by Alexander Petersen (Investment Writing) 04:00 Greek bonds back in favour by Eirini Tsekeridou (Fixed Income Research) 08:49 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.
May 30, 2023 · 11 min
US debt ceiling negotiations clear their first hurdle
Futures markets have reacted with cautious optimism to the fact that President Joe Biden and House Speaker Kevin McCarthy finally reached an agreement on a deal to raise the US debt ceiling this weekend. Nevertheless, they now face the challenge of getting the bill passed by the House of Representatives before 5th June. Our Head of Fixed Income Research, Markus Allenspach, examines the deal and its economic consequences on today’s show. 00:14 Introduction by Helen Freer (Investment Writing) 00:40 Markets wrap-up by Bernadette Anderko (Investment Writing) 05:43 US debt ceiling update by Markus Allenspach (Head of Fixed Income 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.
May 26, 2023 · 12 min
Tech sector shines as time runs out to avoid US government default
The tech sector rallied strongly yesterday, while other sectors and the broader market were flat to slightly lower. This followed the upbeat outlook on AI-related demand from the US chip developer Nvidia. Meanwhile, negotiations over the US debt ceiling increase are heating up as time is running out for politicians to find a solution. And Tim Gagie, our Head of FX & PM Solutions in Geneva, talks about where he sees opportunities in currencies and metals. 00:14 Introduction by Helen Freer (Investment Writing) 00:36 Markets wrap-up by Roman Canziani (Investment Writing) 07:01 FX update by Tim Gagie (Head of FX & PM Solutions Geneva) 10:50 Closing remarks by Helen Freer (Investment Writing)
May 25, 2023 · 12 min
Fitch move adds to pressure on markets
US ratings agency Fitch put the United States’ AAA bond rating on negative watch yesterday, saying that the debt ceiling negotiations have raised the risks that the government could miss payments on some of its obligations. The impact was felt by the major US indices which all closed lower, but Nvidia’s surprisingly good results did provide a boost to Nasdaq futures later. Norbert Rücker, Head of Macro & Next Generation Research, joins us to provide an update on the natural gas market, and Nicolas Jordan from the CIO Office gives us some insights into the latest thinking of our Investment Committee. 00:14 Introduction by Helen Freer (Investment Writing) 00:51 Markets wrap-up by Bernadette Anderko (Investment Writing) 05:30 Natural gas update by Norbert Rücker (Head of Macro & Next Generation Research) 09:12 Update from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis) 11:27 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.
May 24, 2023 · 12 min
US debt-ceiling impasse dents investor sentiment
Global equity markets suffer losses after continued US debt-ceiling negotiations ended without a deal yesterday. This increases the likelihood that the House and the Senate will both have to vote on a deal next week to prevent the US from defaulting on its debt obligations. David Kohl, Chief Economist, shares his insights into the eurozone’s latest flash purchasing managers' index data and what this means for the growth outlook. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:33 Markets wrap-up by Jonti Warris (Investment Writing) 05:46 European PMIs and growth outlook by David Kohl (Chief Economist) 10:58 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.
May 23, 2023 · 13 min
No deal yet
The US debt ceiling negotiations are still stealing the spotlight and while House Speaker Kevin McCarthy and US President Joe Biden had a “productive” meeting yesterday, they have not yet reached an agreement. Markus Allenspach, our Head of Fixed Income Research, joins today’s episode to explain whether he thinks a deal will be reached in time and why no-one can nail down an ‘X-date’ for when the US will actually run out of money. Hannah Wise, Business Journalist, shares how listeners can join our Beyond Markets webcast on Thursday about how to generate income in uncertain times. 00:14 Introduction by Helen Freer (Investment Writing) 00:54 Markets wrap-up by Lucija Caculovic (Investment Writing) 04:48 Update on US debt ceiling talks by Markus Allenspach (Head of Fixed Income Research) 9:28 Details for Forthcoming Income Generation Webcast by Hannah Wise (Head of video channels) 12:08 Closing remarks by Helen Freer (Investment Writing)
May 22, 2023 · 9 min
Positive momentum in major global equity indices
The S&P 500 is at its highest level this year and the German DAX index is at an all-time high. This week, the US debt ceiling, US & eurozone interest rates, and US-China tensions are likely to be in focus. China has announced that it will ban some sales of chips from the US semiconductor company Micron Technology, even as President Biden said he expected ties with China to improve very shortly. Markus Wachter, Technical Analysis Research, points out that there have been strong moves in the Nasdaq 100 index and the Nikkei 225 index. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:38 Markets wrap-up by Mike Rauber (Investment Writing) 06:03 Technical analysis update by Markus Wachter (Technical Analysis) 09:05 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.
May 19, 2023 · 15 min
Stocks up and bonds down as sentiment improves across markets
The S&P 500 Index is trading at its highest level in 9 months and US Treasuries are falling as the likelihood of an end to the US debt ceiling impasse has increased in recent hours. This has implications for the US dollar and metals, as Tim Gagie, our Head of FX and PM solutions in Geneva, points out. And Carsten Menke, our Head of Next Generation Research, talks about the latest action in crypto-land. 00:14 Introduction by Mike Rauber (Investment Writing) 00:40 Markets wrap-up by Roman Canziani (Investment Writing) 06:29 FX update by Tim Gagie (Head of FX & PM Solutions Geneva) 11:33 Digital assets update by Carsten Menke (Head of Next Generation Research) 14:39 Closing remarks by Mike Rauber (Investment Writing)
May 17, 2023 · 17 min
US debt ceiling and interest rate views in focus
The S&P 500 closed down 0.6% yesterday. Comments from Federal Reserve officials on whether further interest rate hikes will be necessary in light of strong economic data releases, and the ongoing uncertainty over the debt ceiling drove equities lower. Dario Messi, Fixed Income Research, provides our view on the ongoing US debt ceiling negotiations, noting that we are working on the assumption that a last-minute deal will be reached. Richard Tang, Equity Research Asia, talks about the renewed interest in Japanese equities after Warren Buffett increased his stake in five trading companies and where Julius Baer sees the sweet spot in the Japanese equity market. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:32 Markets wrap-up by Mike Rauber (Investment Writing) 05:20 Update on US debt ceiling by Dario Messi (Fixed Income Research) 10:05 Japan – reopening and reform by Richard Tang (Equity Research Asia) 16:34 Closing remarks by Bernadette Anderko (Investment Writing)
May 16, 2023 · 11 min
US Treasury warns of catastrophe of a US default
US Treasury Secretary Janet Yellen has warned that the US government will default on its payments by 1 June unless the debt ceiling is raised, putting pressure on Congressional Republicans and the White House to reach a deal. Eirini Tsekeridou, Fixed Income Research, shares her insights into the Turkish elections and the market impact, and Carsten Menke, Head of Next Generation Research, gives an update on the copper market. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:41 Markets wrap-up by Jonti Warris (Investment Writing) 04:48 Turkish elections and market impact by Eirini Tsekeridou (Fixed Income Research) 07:19 Copper market update by Carsten Menke (Head of Next Generation Research) 10:03 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.
May 15, 2023 · 7 min
Markets dominated by politics
US stocks barely moved on Friday. President Joe Biden, House Speaker Kevin McCarthy, and other congressional leaders are planning to meet on Tuesday to discuss budget negotiations in order to avoid a US government default. In the Turkish presidential election, President Erdogan failed to win a majority of the votes, leaving him with 49.3% of the votes and his opponent, Kemal Kilicdaroglu, with 45%. Mensur Pocinci our Head of Technical Analysis provides a technical update on Chinese financial markets following the steep decline in Chinese interest rates. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:33 Markets wrap-up by Alexander Petersen (Investment Writing) 04:14 Technical analysis update by Mensur Pocinci (Head of Technical Analysis) 06:20 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.
May 12, 2023 · 15 min
US debt ceiling, BOE rate hike, tech company news – a lot to digest
From concerns about US regional banks to the US debt-ceiling debate, the Bank of England’s interest rate hike and the raft of news from tech companies, there are plenty of headlines for investors to absorb. Tim Gagie, Head of FX & PM Solutions Geneva, joins today’s episode to shed some light on the latest developments in currencies and metals markets, and Leonardo Pellandini, Equity Strategist, is here to provide an update on the earnings season. 00:14 Introduction by Helen Freer (Investment Writing) 00:39 Markets wrap-up by Lucija Caculovic (Investment Writing) 05:55 FX update by Tim Gagie (Head of FX & PM Solutions Geneva) 09:56 Earnings season update by Leonardo Pellandini (Equity Strategist) 13:59 Closing remarks by Helen Freer (Investment Writing)
May 11, 2023 · 13 min
Inflation moderating in both the US and China
Both the US and China have announced CPI inflation data in the last 24 hours and the headline numbers showed inflation moderating. The market reaction was muted with tech stocks being the main beneficiaries; the US dollar weakened, and US Treasuries rallied. Traders are now focused on whether a solution to the US debt default possibility can be found before 1st June. Norbert Rücker, Head of Macro & Next Generation Research, provides an update on the hydrogen market, and from the CIO office, Nicolas Jordan gives us an insight into what’s currently top-of-mind for the investment committee. 00:14 Introduction by Helen Freer (Investment Writing) 00:40 Markets wrap-up by Bernadette Anderko (Investment Writing) 05:38 Hydrogen by Norbert Rücker (Head of Macro & Next Generation Research) 09:45 Update from the CIO Office by Nicolas Jordan (CIO Strategy & Investment Analysis) 12:43 Closing remarks by Helen Freer (Investment Writing)
May 10, 2023 · 15 min
Debt ceiling negotiations and regional bank weakness in the US
President Joe Biden and congressional Republicans have made little tangible progress in averting a first-ever US debt default, but promised negotiations that would open the door to a possible deal. Meanwhile, the ECB has to do more to bring inflation back to its 2% target, even as it waits to see the full impact of the measures taken so far. Fixed income analyst, Dario Messi provides an update on the high-yield view, and Roger Degen from the Equity Research team provides the latest news on US regional banks. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:37 Markets wrap-up by Alexander Petersen (Investment Writing) 04:17 Fixed Income strategy update by Dario Messi (Fixed Income Research Analyst) 09:11 Latest on US regional banks by Roger Degen (Equity Research Analyst) 14:09 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.