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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May 9, 2023 · 10 min
US equities unchanged even as credit standards tighten
US equities ended the day little changed on Monday, despite the Federal Reserve's Senior Loan Officer Survey showing tightening credit conditions for both households and firms, as well as declining collateral values. In a sign of confidence in Apple, the company was able to tap the bond market with a bond that matures only in 2053. All eyes are now on tomorrow's US inflation report. Manuel Villegas, Next Generation Research, discusses the rise of meme coins and what market participants should make of them. 00:14 Introduction by Helen Freer (Investment Writing) 00:34 Markets wrap-up by Mike Rauber (Investment Writing) 04:54 Digital assets update by Manuel Villegas (Next Generation Research) 09:23 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 8, 2023 · 9 min
Risk sentiment improves across financial markets after a good set of data
The trading week has started on a positive note with Asia Pacific stocks trading higher on improved sentiment after a solid US labour market report and the overall better than expected earnings season. US government yields are up on the prospect of the Federal Reserve keeping interest rates higher for longer, but our Head of Technical Analysis, Mensur Pocinci, still believes that the overall direction of US yields is down. 00:14 Introduction by Helen Freer (Investment Writing) 00:53 Markets wrap-up by Roman Canziani (Head of Investment Writing) 06:10 Technical analysis update by Mensur Pocinci (Head of Technical Analysis) 08:31 Closing remarks by Helen Freer (Investment Writing) We would love to receive your feedback! Please leave us a review and star rating wherever you listen to the show.
May 5, 2023 · 9 min
Rate hikes, earnings, banking turmoil – plenty to digest this week
As if investors didn't already have enough to digest this week, with interest rate hikes from the major central banks and the ongoing earnings season, there was a fresh sell-off in US regional banks which only added to events. However, investors seemed to quickly regain their composure and this volatility just highlights the fragility of the market. With oil suffering some declines this week, Norbert Ruecker, our Head of Macro & Next Generation Research, joins today’s episode to share his view on the commodity. 00:14 Introduction by Helen Freer (Investment Writing) 00:38 Markets wrap-up by Lucija Caculovic (Investment Writing) 05:58 Update on oil by Norbert Rücker (Head of Macro & Next Generation Research) 08:30 Closing remarks by Helen Freer (Investment Writing)
May 4, 2023 · 15 min
Fed raises rates and hints at pausing its tightening cycle
The US central bank raised its benchmark interest rate by a quarter of a percentage point to the 5.00%-5.25% range as forecast. In his statement following the announcement, Fed Chair Jerome Powell gave hints that the Fed could now be set to pause its current hiking cycle. Tim Gagie, Head of FX & PM Solutions Geneva, shares his thoughts on the outlook for the US dollar, and Ronny Kaufmann, CIO Strategy & Investment Analysis, gives us an update on the latest thoughts of our CIO. 00:14 Introduction by Helen Freer (Investment Writing) 00:40 Markets wrap-up by Jonti Warris (Investment Writing) 05:33 FX update by Tim Gagie (Head of FX & PM Solutions Geneva) 09:42 Update from the CIO Office by Ronny Kaufmann (CIO Strategy & Investment Analysis) 14:37 Closing remarks by Helen Freer (Investment Writing)
May 3, 2023 · 11 min
US Fed decision day
The US Federal Reserve is expected to raise its key interest rate to 5.25% today. However, with markets pricing in a rate cut by the end of the year, all eyes will be on the Fed's statement and Jerome Powell's press conference. Yesterday's sell-off in US regional banks and the ongoing debt ceiling debate will make his comments all the more important. Mathieu Racheter, Head of Equity Strategy, notes that US Q1 earnings are coming in better than expected, but the market reaction has been muted – one big exception: large-cap communications stocks, a sector he recently put on Overweight. 00:14 Introduction by Roman Canziani (Head of Investment Writing) 00:54 Markets wrap-up by Mike Rauber (Investment Writing) 05:51 Earnings season update by Mathieu Racheter (Head of Equity Strategy) 10:11 Closing remarks by Roman Canziani (Head of Investment Writing)
May 2, 2023 · 15 min
Markets on tenterhooks ahead of central bank decisions
Central bank rate hike decisions are in the spotlight this week, but equity market sentiment has picked up somewhat in recent days. Our Chief Economist, David Kohl, shares his thoughts on what the markets want to hear from central banks and why the risk of a US recession has increased. And Next Generation Research's Manuel Villegas explains why he believes that regulatory action in the crypto space is set to increase. 00:14 Introduction by Helen Freer (Investment Writing) 00:43 Markets wrap-up by Roman Canziani (Head of Investment Writing) 05:38 Comments on latest US data by David Kohl (Chief Economist) 11:06 Digital Assets update by Manuel Villegas (Next Generation Analyst) 14:42 Closing remarks by Helen Freer (Investment Writing)
Apr 28, 2023 · 11 min
Tech stocks help markets shrug off fresh banking woes
While there are fresh jitters in the banking sector, tech stocks are lifting the broader market. Meanwhile, investors are digesting yesterday’s US GDP data while awaiting the Federal Reserve’s favourite inflation gauge – the Personal Consumption Expenditures (PCE) deflator due out later today. Tim Gagie, Head of FX & PM Solutions in Geneva, joins today’s show to give his views on how central banks are impacting FX markets and he reveals which currencies looks like good value at the moment. 00:14 Introduction by Helen Freer (Investment Writing) 01:09 Markets wrap-up by Lucija Caculovic (Investment Writing) 05:28 FX update by Tim Gagie (Head of FX & PM Solutions Geneva) 10:02 Closing remarks by Helen Freer (Investment Writing)
Apr 27, 2023 · 13 min
Big-tech corporate earnings reassure investors
With the Q1 earnings season garnering the attention of investors this week, big-tech earnings are helping to bolster sentiment amid lingering concerns about the health of US regional banks. Carsten Menke, Head of Next Generation Research, shares his thoughts on the recent rally in gold, and Ronny Kaufmann, CIO Strategy & Investment Analysis, gives us an update on the latest thoughts of our CIO. 00:14 Introduction by Helen Freer (Investment Writing) 00:37 Markets wrap-up by Jonti Warris (Investment Writing) 04:54 Gold update by Carsten Menke (Head of Next Generation Research) 08:33 Update from the CIO Office by Ronny Kaufmann (CIO Strategy & Investment Analysis) 12:14 Closing remarks by Helen Freer (Investment Writing)
Apr 26, 2023 · 9 min
Further turmoil in the US banking sector
Just as the banking sector was recovering from the turmoil that engulfed it last month, First Republic Bank is making fresh headlines with its divestment plans. Meanwhile, the so-called FAANMG stocks have started their fair share of earnings reports, which showed that quarterly results were largely driven by their established search and cloud computing businesses, and they also used their investor calls to highlight what's next: Artificial Intelligence. Dario Messi from Fixed Income Research shares his thoughts on US high yield and emerging market hard currency debt. 00:14 Introduction by Lucija Caculovic (Investment Writing) 00:33 Markets wrap-up by Alexander Petersen (Investment Writing) 04:18 Fixed income update by Dario Messi (Fixed Income Research) 08:14 Closing remarks by Lucija Caculovic (Investment Writing)
Apr 25, 2023 · 14 min
Low volatility in markets – but a lot of push and pull below the surface
While financial markets’ overall ups and downs remain rather muted, there is a lot happening on a single company level with about 180 S&P companies reporting this week alone. Listen to what Leonardo Pellandini, Equity Strategist thinks about the current earnings season. And in addition, there is news about crypto regulation – Manuel Villegas from Next Generation Research shares his thoughts about it. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:30 Markets wrap-up by Roman Canziani (Head of Investment Writing) 05:27 Earnings update by Leonardo Pellandini (Equity Strategy) 09:30 Digital assets and regulation by Manuel Villegas (Next Generation research) 13:38 Closing remarks by Bernadette Anderko (Investment Writing)
Apr 24, 2023 · 8 min
A big earnings and economic data week
On the earnings front, Coca-Cola and First Republic Bank, which has been at the centre of a crisis of confidence in mid-sized US banks following the collapse of SVB, will be reporting today. The major US technology companies will start reporting tomorrow, as well as SMI heavyweights. And on Friday the Bank of Japan meets, and the US Federal Reserve releases its preferred inflation indicator, the core PCE. Mensur Pocinci, our Head of Technical Analysis, talks today about the major tailwinds supporting equities, but also the resistance levels worth watching. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:40 Markets wrap-up by Mike Rauber (Investment Writing) 05:15 Technical outlook by Mensur Pocinci (Head of Technical Analysis) 07:24 Closing remarks by Bernadette Anderko (Investment Writing)
Apr 21, 2023 · 10 min
Downbeat US economic releases
US stocks fell and US Treasuries rallied after the release of disappointing economic reports and some weaker than expected earnings. March inflation figures from Japan were slightly higher than expected. Bence Boldvai, FX & PM Advisory, comments on the Yen and next week's Bank of Japan meeting, as well as other issues driving the currency markets at the moment. 00:14 Introduction by Helen Freer (Investment Writing) 00:35 Markets wrap-up by Mike Rauber (Investment Writing) 05:21 FX update by Bence Boldvai (FX & PM Advisory) 09:26 Closing remarks by Helen Freer (Investment Writing)
Apr 20, 2023 · 12 min
Company earnings offer a mixed bag with a few surprises
With calm returning to financial markets, investors’ attention turned to corporate earnings. L’Oréal and Morgan Stanley came in ahead of expectations, while Tesla missed expectations, as it plans to further drop the price of its vehicles. Carsten Menke, Head of Next Generation Research, provides an update on industrial metals, and Nicolas Jordan, CIO Strategy & Investment Analysis, gives us an update on the latest thoughts from our CIO. 00:14 Introduction by Helen Freer (Investment Writing) 00:47 Markets wrap-up by Jonti Warris (Investment Writing) 05:46 Industrial metals update by Carsten Menke (Head of Next Generation Research) 08:58 Our CIO’s latest thoughts by Nicolas Jordan (CIO Strategy & Investment Analysis) 11:51 Closing remarks by Helen Freer (Investment Writing)
Apr 19, 2023 · 11 min
Earnings in focus
The S&P 500 was flat on the day yesterday as there was a mixed bag of earnings. Although the VIX index, a fear gauge for US equities, dropped to its lowest level since the start of the year, a Bank of America survey nevertheless showed that global fund managers have their equity allocations at their lowest versus bonds since the Great Financial Crisis. Mathieu Racheter, Head of Equity Strategy, talks about the key take-aways form the earnings releases of large US banks as well as what to focus on as the earnings season continues. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:28 Markets wrap-up by Mike Rauber (Investment Writing) 05:28 US earnings seasons expectations and review of bank earnings 10:33 Closing remarks by Bernadette Anderko (Investment Writing)
Apr 18, 2023 · 9 min
Markets eke out small gains – but the US dollar remains in the spotlight
Stock markets keep on climbing the wall of worry, with investors seemingly less concerned than equity strategists, as highlighted by major volatility indices printing new lows. Higher yields are probably one of the reasons for the rebound of the US dollar over the last two business days. Find out in today’s show where the currency is heading next, according to our Head of Technical Analysis, Mensur Pocinci. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:35 Markets wrap-up by Roman Canziani (Head of Investment Writing) 05:09 Technical analysis update by Mensur Pocinci (Head of Technical Analysis) 08:22 Closing remarks by Bernadette Anderko (Investment Writing)
Apr 14, 2023 · 16 min
Inflation data and earnings season in focus
Economic data showing some easing on the inflation front has lifted equity markets around the world, but investors are now turning their attention to the earnings season, with some of the big US banks reporting today. In the bond markets, US interest rates have begun a consolidation process that could extend through to next week and into the pre-FOMC period of silence. David Kohl, Chief Economist, and Manuel Villegas, Next Generation Research Analyst, join today’s show to share their views on the latest US inflation data and digital assets. 00:14 Introduction by Helen Freer (Investment Writing) 00:39 Markets wrap-up by Lucija Caculovic (Investment Writing) 05:03 Comments on US CPI and PPI data by David Kohl (Chief Economist) 09:47 Digital assets update by Manuel Villegas (Next Generation Research Analyst) 14:51 Closing remarks by Helen Freer (Investment Writing)
Apr 13, 2023 · 12 min
US inflation slows, raising prospect of further rate hike
Softening US inflation suggests the US Federal Reserve is likely to raise interest rates by a further 25 basis points at its next meeting in May, although its rate hike cycle may be nearing the end. Mathieu Racheter, Head of Equity Strategy Research, explains why we are now upgrading the global communications sector to Overweight, and Nicolas Jordan, CIO Strategy & Investment Analysis, gives us an update on the latest thoughts from our Chief Investment Office. 00:14 Introduction by Helen Freer (Investment Writing) 01:15 Markets wrap-up by Jonti Warris (Investment Writing) 06:04 Global communications sector upgrade by Mathieu Racheter (Head of Equity Strategy Research) 09:06 Our CIO’s latest thoughts by Nicolas Jordan (CIO Strategy & Investment Analysis) 11:15 Closing remarks by Helen Freer (Investment Writing)
Apr 12, 2023 · 15 min
Markets trade in narrow ranges before the all-important US inflation report
While Tech shares remained under pressure, closing down for the 5th time in 6 days yesterday, the rest of the market traded rangebound ahead of today’s main data point, the US inflation report for March. Dario Messi from Fixed Income Research shares his thoughts on expected US inflation data and Tim Gagie, Head of FX & PM solutions talks about his thoughts on the latest ups and downs in the currency and metals markets. 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:37 Markets wrap-up by Roman Canziani (Investment Writing) 05:24 Bond markets and likely impact of forthcoming inflation releases by Dario Messi (Fixed Income research) 09:38 FX markets this week by Tim Gagie (Head of FX & PM Solutions Geneva) 14:17 Closing remarks by Bernadette Anderko (Investment Writing)
Apr 11, 2023 · 8 min
US labour market cools whilst China’s inflation remains muted
Non-farm payroll data out of the US on Friday saw hiring growth moderating and wage rises easing. In China, data published today revealed muted inflation as the consumer price index rose just 0.7% year on year in March, weaker than the 1% forecast. Investors are now watching out for US CPI figures (Wednesday) and PPI data (Thursday) for signs of whether or not the Fed is about to pause or even end its hiking cycle. Mensur Pocinci, Head of Technical Analysis, provides his latest thoughts from a technical perspective. 00:14 Introduction by Helen Freer (Investment Writing) 00:47 Markets wrap-up by Bernadette Anderko (Investment Writing) 05:24 Technical analysis update by Mensur Pocinci (Head of Technical Analysis) 07:58 Closing remarks by Helen Freer (Investment Writing)
Apr 6, 2023 · 13 min
Rising recession risks keep markets busy
Stock markets are torn between the rising recession risks and expectations that yields will fall - defensive sectors have outperformed over the last few hours and US Treasury bonds have continued their impressive rally. Carsten Menke, our Head of Next Generation Research, shares his views on the surprise OPEC+ oil output cut, and Nicolas Jordan from our CIO Office talks about how to tackle the current investment environment. 00:14 Introduction by Helen Freer (Investment Writing) 00:43 Markets wrap-up by Roman Canziani (Head of Investment Writing) 05:15 What OPEC+ cuts mean for the oil market by Carsten Menke (Head of Next Generation Research) 08:48 CIO update by Nicolas Jordan (CIO Strategy and Investment Analysis) 11:58 Closing remarks by Helen Freer (Investment Writing)