Link to slide deck: https://bit.ly/3nClmbx   -

Today we look at the big sentiment shift on Friday, in part driven by strong US April payrolls growth (although do note the negative revision of March data), but also driven by improved sentiment in US regional banks. We look at remarkably stretched positioning in US treasury futures for at least part of the curve, highlight the big shift in currencies late last week, note the treacherous shifts in the oil market, break down the week ahead in earnings, note the geopolitical risks in owning Apple shares, Warren Buffett's concerns on the US-China relationship, the week ahead on the macro calendar, especially the Wednesday US April CPI release, and more. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

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Intro and outro music by AShamaluevMusic