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

Newest first

Apr 5, 2023 · 10 min
Stock markets wobble again
US stocks snapped a four-day winning streak yesterday as concerns about the banking sector and the broader economic outlook persist. In addition, comments from Federal Reserve officials about higher interest rates for longer are further dampening sentiment at a time when Treasuries are coming off one of their most volatile quarters ever. Markus Allenspach, Head of Fixed Income Research, joins today’s episode to outline his views on fixed income 00:14 Introduction by Bernadette Anderko (Investment Writing) 00:35 Markets wrap-up by Lucija Caculovic (Investment Writing) 04:14 Bonds and the risk of a credit crunch by Markus Allenspach (Head of Fixed Income Research) 9:36 Closing remarks by Bernadette Anderko (Investment Writing)
Apr 4, 2023 · 13 min
Markets mixed as investors assess outlook after weaker US factory data
US equities finished mixed in trading yesterday, as investors weighed the weaker-than-expected ISM manufacturing data against inflation concerns following OPEC+’s plan to cut oil output. Australian equities extend gains for a seventh straight day, following the Reserve Bank of Australia’s decision to leave interest rates unchanged at 3.6%. Our Chief Economist David Kohl provides us with the latest on Eurozone inflation and credit growth and we have an update on digital assets from Manuel Villegas, Next Generation Research. 00:14 Introduction by Helen Freer (Investment Writing) 00:43 Markets wrap-up by Jonti Warris (Investment Writing) 04:56 Eurozone inflation and credit growth by David Kohl (Chief Economist) 09:22 Digital assets update by Manuel Villegas (Next Generation Research) 12:55 Closing remarks by Helen Freer (Investment Writing)
Apr 3, 2023 · 7 min
OPEC+ cut oil production
OPEC+ announced an unexpected cut in oil production of more than a million barrels per day, breaking its promise to maintain supply stability and introducing a new risk to the global economy. In company news, after completing its takeover of Credit Suisse, UBS is expected to reduce its workforce by 20% to 30%; and Tesla has fallen short of Elon Musk's long-term goal of 50% annual growth despite record first-quarter deliveries. Mensur Pocinci, our Head of Technical Analysis, provides some insights into the this morning’s oil rally. 00:14 Introduction by Helen Freer (Investment Writing) 00:36 Markets wrap-up by Alexander Petersen (Investment Writing) 04:21 Technical analysis update by Mensur Pocinci (Head of Technical Analysis) 06:41 Closing remarks by Helen Freer (Investment Writing)
Mar 31, 2023 · 10 min
The Fed’s preferred inflation measure out today
US large-cap equities had another strong day, and the Biden administration wants to strengthen banking regulation. China’s non-manufacturing PMI data release points towards the country’s economic recovery gaining strength. Yet, for trading action today all eyes will be on the release of the Core US PCE Deflator, the US Federal Reserve’s preferred inflation measure, at 14:30 CET. Carsten Menke, Head of Next Generation Research, takes a closer look at gold after it has moved back towards USD 2,000 an ounce as of late. 00:14 Introduction by Roman Canziani (Head of Investment Writing) 00:34 Markets wrap-up by Mike Rauber (Investment Writing) 05:24 Gold in the spotlight by Carsten Menke (Head of Next Generation Research) 09:08 Closing remarks by Roman Canziani (Head of Investment Writing)
Mar 30, 2023 · 12 min
Equity markets advance ahead of US core PCE deflator
Global equities advanced yesterday, and investors are now turning their focus to tomorrow’s core PCE deflator data. The Bank of England has warned that the UK financial system urgently needs to be made more resilient. Nicolas Jordan from CIO & Strategy Analysis provides us with the latest from the Julius Baer Investment Committee. And we have an update from Tim Gagie, our Head of FX&PM Solutions in Geneva, on forex and precious metals 00:14 Introduction by Mike Rauber (Investment Writing) 00:39 Markets wrap-up by Jonti Warris (Investment Writing) 04:21 News from the Investment Committee by Nicolas Jordan (CIO Strategy & Investment Analysis) 07:23 FX & PM update by Tim Gagie (Head of FX & PM Solutions Geneva) 11:15 Closing remarks by Mike Rauber (Investment Writing)
Mar 29, 2023 · 12 min
Government bond yields rise as some calm returns to equity markets
With nerves calmed, traders have started to reassess the odds of additional interest rate hikes in Europe and the US. Leonardo Pellandini, Equity Strategy Research, explains why he believes in a comeback for quality growth stocks, and Dario Messi, Fixed Income Research, highlights where fixed income investors can now find value. 00:14 Introduction by Lucija Caculovic (Investment Writing) 00:34 Markets wrap-up Roman Canziani (Head of Investment Writing) 05:07 The comeback of quality growth by Leonardo Pellandini (Equity Strategy) 07:50 Fixed income update by Dario Messi (Fixed Income Research) 11:50 Closing remarks by Lucija Caculovic (Investment Writing)
Mar 28, 2023 · 13 min
Investors looking past the regional banking crisis
With news of the prospect of further support from US authorities, there were signs of investors trying to move on from the regional banking crisis yesterday. The DJIA and the S&P 500 index both rose, although the Nasdaq Composite fell. Our Chief Economist, David Kohl, shares his thoughts on the economic outlook and the impact of the banking turmoil, and then Manuel Villegas, Next Generation Research analyst, provides an update on digital assets and the implications of tougher regulation in the crypto space. 00:14 Introduction and markets wrap-up by Helen Freer (Investment Writing) 03:29 Monetary Policy transmission by David Kohl (Chief Economist) 07:53 Digital assets by Manuel Villegas (Next Generation Research) 12:16 Closing remarks by Helen Freer (Investment Writing)
Mar 27, 2023 · 6 min
Markets still unsettled by banks
Whilst US markets closed last week on a high, Asian markets were more circumspect overnight and sentiment in China was dented by declining industrial profits data. Although it has been announced that First Citizens Bank & Trust Co is buying Silicon Valley Bank’s deposits and loans, nervousness persists in the banking sector. In today's episode, our Head of Technical Analysis, Mensur Pocinci, urges investors not to bottom-fish and explains why he’s watching gold and equities right now. 00:14 Introduction and markets wrap-up by Bernadette Anderko (Investment Writing) 03:21 Technical update by Mensur Pocinci (Head of Technical Analysis) 06:06 Closing remarks by Bernadette Anderko (Investment Writing)
Mar 24, 2023 · 15 min
Stock markets held back by bank stocks
Bank stocks have held down overall stock markets over the past hours as traders remain wary of further potentially disruptive news from the sector. Short-dated government bonds rallied after several central banks hiked rates yesterday. David Kohl, our Chief Economist, puts these moves into perspective and Tim Gagie, our Head of FX&PM Solutions in Geneva, summarises his thoughts on the week in FX and metals. 00:14 Introduction by Mike Rauber (Investment Writing) 00:44 Markets wrap-up by Roman Canziani (Head of Investment Writing) 05:01 Central bank decision week by David Kohl (Chief Economist) 10:01 FX Update by Tim Gagie (Head of FX & PM Solutions Geneva) 14:56 Closing remarks by Mike Rauber (Investment Writing)
Mar 23, 2023 · 12 min
Central banks all day long
The US Federal Reserve increased interest rates for the ninth consecutive time and signalled that additional increases might be forthcoming, prompting equity markets to tank. Today, the Swiss National Bank and the Bank of England are likely to follow suit with increases in their respective policy rates, continuing their fight against sticky inflation. Damien Ng from Next Generation Research gives insights on Genomics and Nicolas Jordan from CIO Strategy & Investment Analysis shares the latest news from the Investment Committee. 00:14 Introduction and markets wrap-up by Alex Petersen (Investment Writing) 03:00 Genomics – bright prospects by Dr. Damien Ng (Next Generation Research) 08:31 News from the Investment Committee by Nicolas Jordan (CIO Strategy & Investment Analysis) 11:33 Closing remarks by Alex Petersen (Investment Writing)
Mar 22, 2023 · 12 min
US Treasury Secretary Janet Yellen gives equites a boost
US equities rose yesterday, supported by comments from US Treasury Secretary Janet Yellen that the US government would step in again if smaller banks suffered deposit runs. Investors are now firmly focused on today's Federal Reserve meeting and Jerome Powell's press conference - it will be interesting to see if the markets give the decisions a thumbs up or thumbs down. In today's episode, Dario Messi, Fixed Income Research, looks at the surprise write-down of Credit Suisse's AT1 bonds following the UBS takeover announcement. 00:14 Introduction and markets wrap-up by Bernadette Anderko & Mike Rauber (Investment Writing) 07:28 Bond market update with a focus on AT1 by Dario Messi (Fixed income research) 11:29 Closing remarks by Bernadette Anderko (Investment Writing)
Mar 21, 2023 · 11 min
Markets breathe a sigh of relief
The Credit Suisse ‘solution’ seems to have calmed global equity markets – with the major indices trading up in yesterday’s/overnight sessions. Regulators outside of Switzerland have been keen to clarify that shareholder capital has to be written down before AT1 debt, following the upset that has been caused in bond markets by Credit Suisse’s AT1 bonds being written down to zero. David Meier joins the show to provide insights on upcoming SNB, Bank of England and US Fed rate decisions, and Manuel Villegas charts Bitcoin’s moves in the wake of the recent market activity. 00:14 Introduction and markets wrap-up by Bernadette Anderko (Investment Writing) 02:41 Fed, BoE and SNB meetings by David Alexander Meier (Senior Economist) 07:52 Digital assets update by Manuel Villegas (Next Generation Research) 10:55 Closing remarks by Bernadette Anderko (Investment Writing)
Mar 20, 2023 · 8 min
Credit Suisse deal sends shivers through markets
With the UBS take-over of Credit Suisse dominating all the headlines, both stock and credit markets are under pressure, the latter due to fears on deeply subordinated bond exposures, which the Swiss regulator called worthless in the case of Credit Suisse. Markus Wachter, from Technical Analysis, gives some guidance on where support and resistance levels are across the major market indices. 00:14 Introduction and markets wrap-up by Mike Rauber (Investment Writing) and Roman Canziani (Head of Investment Writing) 04:53 Technical update by Markus Wachter (Technical Analysis) 07:24 Closing remarks by Mike Rauber (Investment Writing)
Mar 17, 2023 · 13 min
ECB hikes 50 bps and moves towards a more data-dependent approach
News that the biggest banks in the US said they’ll deposit USD 30 billion with First Republic Bank seemed to boost investor confidence yesterday and equity markets rebounded. All the major indices in the US and Europe ended the day in the green. Also yesterday, the ECB raised interest rates by 50 basis points - our Chief Economist, David Kohl, shares his thoughts on this and his expectations on the pace of rate hikes going forward. Finally, Tim Gagie, Head of FX and PM Solutions Geneva, provides an update on currencies. 00:14 Introduction and markets wrap-up by Helen Freer (Investment Writing) 04:15 Comments on ECB decision by David Kohl (Chief Economist) 08:09 FX update by Tim Gagie (Head of FX & PM Solutions Geneva) 12:40 Closing remarks by Helen Freer (Investment Writing)
Mar 16, 2023 · 9 min
Swiss National Bank to save Credit Suisse
Credit Suisse will borrow CHF 50 billion from the SNB and make a tender offer to buy back up to CHF 3 billion in Dollar and Euro-denominated debt. European Central Bank officials have a crucial decision to make today as they consider whether the market turmoil surrounding Credit Suisse is severe enough to derail a long-anticipated interest-rate hike. Jeremy Hunt's decision to inject more than GBP 20 billion into the UK economy may push the Bank of England to raise interest rates again. Mathieu Racheter, Head of Equity Strategy provides an update on European banks and Carsten Menke, Head of Next Generation Research shares his thoughts on the impact of the market turbulence on the gold and silver markets. 00:14 Introduction and markets wrap-up by Alex Petersen (Investment Writing) 02:46 Thoughts on European banks by Mathieu Racheter (Head of Equity Strategy Research) 05:17 Impact of market turbulence on the gold and silver markets by Carsten Menke (Head of Next Generation Research) 08:10 Closing remarks by Alex Petersen (Investment Writing)
Mar 15, 2023 · 8 min
Markets finally turn a corner
US equity markets staged a rebound yesterday following the brutal selloff earlier this week, as traders see the worst of the US banking sector turmoil now behind us. UK Chancellor Jeremy Hunt will today unveil his first budget as the country battles a cost-of-living crisis and a stalling economy. And Dario Messi, Fixed Income Research Analyst, takes a closer look at what the recent market developments and the latest US inflation print mean for bond markets. 00:14 Introduction and markets wrap-up by Jonti Warris (Investment Writing) 04:09 Bond market update in the light of latest US CPI data and SVB by Dario Messi (Fixed Income Research) 07:56 Closing remarks by Jonti Warris (Investment Writing)
Mar 14, 2023 · 14 min
Silicon Valley Bank (SVB) fallout continues to dominate markets
The major US indices closed lower yesterday with the exception of tech which managed to close higher. Asia also traded lower overnight. Traders and investors are now eyeing other banks to see if they have similar issues to SVB, and also mulling whether or not the bank’s collapse might lead the US federal Reserve to change their monetary policy path. All eyes will be on US inflation data later today. Manuel Villegas (Next Generation Research) and Ronny Kaufmann (CIO Office) join the show to inform us how the SVB collapse impacts crypto assets and give us the view on the collapse from our CIO. 00:14 Introduction and markets wrap-up by Bernadette Anderko (Investment Writing) 04:04 Digital assets & SVB by Manuel Villegas (Next Generation Research) 08:38 Thoughts on the SVB situation by Ronny Kaufmann (CIO Strategy & Investment Analysis) 13:44 Closing remarks by Bernadette Anderko (Investment Writing)
Mar 13, 2023 · 11 min
Silicon Valley Bank collapses
US regulators stepped in over the weekend to ensure that customers of the collapsed bank will have access to their insured and uninsured deposits. This is calming markets after last week's losses, with the S&P 500 set to open sharply higher and investors reducing bets on central bank tightening. In today's episode, Mensur Pocinci, Head of Technical Analysis, looks at the level that the S&P 500 must hold to remain in an uptrend, which is 3,900. Roger Degen, Equities Research, provides more details on the US banking sector, noting that Silicon Valley Bank is not representative of the US banking sector as a whole. 00:14 Introduction and markets wrap-up by Mike Rauber (Investment Writing) 04:22 Technical update by Mensur Pocinci (Head of Technical Analysis) 06:41 US banks by Roger Degen (Equity Research) 10:24 Closing remarks by Mike Rauber (Investment Writing)
Mar 10, 2023 · 9 min
Financials and the Fed driving the market
Wall Street suffered a losing session yesterday, dragged down by financials and concerns that higher interest rates could leave banks exposed to loan losses due to borrower defaults. Meanwhile, remarks from Federal Reserve Chairman Jerome Powell continue to leave market participants pondering how much the US central bank might raise interest rates and what the consequences might be. Today's guests are David Kohl, Chief Economist, who comments on the Fed, and Tim Gagie, Head of FX & PM Solutions in Geneva, who shares his latest views on currencies. 00:14 Introduction and markets wrap-up by Lucija Caculovic (Investment Writing) 03:12 Comments after Powell’s testimony by David Kohl (Chief Economist) 06:07 FX update by Tim Gagie (Head of FX & PM Solutions Geneva) 08:15 Closing remarks by Lucija Caculovic (Investment Writing)
Mar 9, 2023 · 12 min
Markets digest Powell’s rate hike comments
After suggesting on Tuesday that the US Federal Reserve might be prepared to increase the pace of interest rate hikes again, in his testimony the Fed Chair Jerome Powell softened his tone slightly yesterday and said that policymakers would wait for more data before making this month’s interest rate decision. With investors considering what his remarks mean in terms of the risk of a recession, there were lots of twists and turns but no huge gains or losses in markets yesterday. Carsten Menke, Head of Next Generation Research, shares his thoughts on what this all means for the gold and silver markets, and Ronny Kaufmann from the CIO Strategy & Investment Analysis team fills us in on the Investment Committee’s most recent thoughts and actions. 00:14 Introduction and markets wrap-up by Helen Freer (Investment Writing) 03:52 Gold and silver update by Carsten Menke (Head of Next Generation Research) 07:00 Investment Committee update by Ronny Kaufmann (CIO Strategy & Investment Analysis) 11:30 Closing remarks by Helen Freer (Investment Writing)