As the conflict in Iran continues to drive oil prices higher and unsettle global markets, investors are assessing the implications for Asia and China. Meanwhile in Beijing, the annual Two Sessions meetings have just concluded, outlining policy priorities and economic targets for the year ahead.

In this episode of Moving Markets: The View Beyond, Richard Tang, Head of Research Hong Kong at Julius Baer, speaks with Hong Hao, Managing Partner and CIO of Lotus Asset Management. They discuss how geopolitical tensions are affecting Asian markets, their key takeaways from the Two Sessions, the outlook for Hong Kong versus A-shares, and the case for renminbi appreciation. Looking further ahead, they also examine the lessons from Japan’s balance sheet recession framework for China.

• (00:00) - Can Asia and China markets weather the storm?

Global markets endured another turbulent session as escalating tensions in the Middle East, including aggressive rhetoric from both Iran and the United States, drove oil prices higher and fuelled risk aversion. European and US equities extended their declines, with energy stocks bucking the trend. Strong US macro data contrasted with the geopolitical gloom, but new US trade investigations under Section 301 added to uncertainty. Private credit concerns also intensified, weighing heavily on major alternative asset managers. Asian markets traded lower overnight, gold slipped despite its safe‑haven appeal, and investors now turn their attention to a packed economic data agenda. Joining our show today is Tim Gagie, Head of FX Advisory in Geneva, for the latest on currencies and metals.

• (00:00) - Introduction: Helen Freer, Product & Investment Content

Tuesday’s rally in European stocks proved short‑lived as surging oil prices and renewed concerns over potential rate hikes unsettled investors. In contrast, US markets were more composed yesterday, with the tech‑heavy Nasdaq even managing to post a modest gain. Asian markets are trading lower today after Brent crude climbed above USD 100 a barrel amid fresh geopolitical escalations. In today’s episode, we are joined by Carsten Menke, Head of Next Generation Research, who shares his insights on aluminium and the potential disruption shaping the outlook for the market.

• (00:00) - Introduction: Helen Freer, Product & Investment Content

Markets reacted to volatile geopolitics as hopes of a swift resolution in the Iran crisis clashed with heightened military tensions. Strong gains in European equities and a sharp drop in oil prices highlighted a session defined by fragile optimism. With central banks watching inflation and safe havens like gold and the Swiss franc holding firm, uncertainty remains. Dario Messi, Head of Fixed Income Research at Julius Baer, and Mathieu Racheter, Head of Julius Baer’s Equity Strategy Research team, discuss how recent geopolitical developments are shaping global bond and equity markets and how investors can navigate markets amid the fog of war.

• (00:00) - Introduction: Lucija Caculovic, Product & Investment Content

Brent oil saw historic intraday swings yesterday, surging on supply fears before dropping sharply as the G7 discussed releasing reserves and the US president signalled the war could soon end. This shift helped European markets rebound from their lows and lifted US equities as safe‑haven flows unwound. Asian markets followed Wall Street higher, supported by strong corporate results and robust Chinese export data. Japan’s Q4 GDP beat expectations, although household spending weakened. Norbert Rücker, Head of Economics and Next Generation Research, shares his timely view on the oil price spike and what likely comes next.

• (00:00) - Introduction: Bernadette Anderko, Product & Investment Content

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This morning, Iran named Mojtaba Khamanei, the man President Trump said would be unacceptable in the post, as its new leader. The immediate market reaction was a spike in the price of Brent crude oil to nearly USD120 per barrel, and a pronounced selloff in Asian stock markets. These moves have since reversed somewhat after the Financial Times wrote that G7 leaders will have talks with the International Energy Agency today regarding a possible release of energy reserves. Richard Tang, Head of Research Hong Kong explains why positioning is driving Asian equity markets more than fundamentals right now, and looks beyond the fog of war to identify attractive Asian equity sectors. And Mensur Pocinci, Head of Technical Analysis focuses on what the charts reveal when it comes to the price of oil and the trajectory of US equity markets.

• (00:00) - Introduction: Jan Bopp, Product & Investment Content

The recent US and Israel strike on Iran has introduced a new layer of uncertainty to global markets, with investors closely monitoring the implications for oil & gas, and portfolios overall. How should investors interpret these developments and position themselves amid heightened geopolitical risk?

In this episode of Moving Markets: The View Beyond, Ayako Lehmann is joined by Norbert Rücker, Head of Economics and Next Generation Research, and Yves Klenk, Head of Client Coverage and Advisory, to discuss the market impact of the Middle East escalation. The conversation covers the immediate effects on oil and gas prices, the scenarios investors should consider, and how clients are responding to volatility across asset classes. The discussion also explores the role of gold, the importance of strategic asset allocation, and why infrastructure and alternatives are gaining traction as diversifiers in uncertain times.

• (00:00) - Introduction

Global markets saw another volatile session as escalating Middle East tensions drove oil prices sharply higher and dampened risk appetite. Equities fell across the US and Europe, and US bond yields moved higher as investors reassessed the outlook for Federal Reserve rate cuts. In tech, potential new US restrictions on AI chip exports weighed on sentiment, though software stocks bucked the trend with a notable rebound. Asian markets were mixed overnight. Joining our show today is Tim Gagie, Head of FX Advisory in Geneva, for the latest on currencies and metals.

• (00:00) - Introduction: Helen Freer, Product & Investment Content

US and European equities rebounded yesterday as the absence of another energy spike supported sentiment. Strong US job gains and a firm ISM services reading eased growth concerns, reduced expectations for a July rate cut, and lifted major indices, with technology leading. The US dollar held firm, investors are positioned for a weaker euro, and Swiss franc strength triggered a second round of SNB verbal intervention. Bitcoin surged, China set a cautious growth target, and Asian markets – especially South Korea – rebounded sharply after steep losses. Norbert Rücker, Head of Economics & Next Generation Research, provides a timely update on the oil and gas markets following the near‑halt in activity through the Strait of Hormuz.

• (00:00) - Introduction: Helen Freer, Product & Investment Content

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US and European stock markets fell further yesterday although some relief was provided by Trump’s promise to accompany vessels through the Strait of Hormuz.  Both oil and the US dollar strengthened, but gold and silver fell, and overnight Asia’s stock markets suffered a bruising session with the Kospi falling more in one day than it has since 2001. Joining the show today are our research team heads of Equity Strategy, Mathieu Racheter, and Fixed Income, Dario Messi, to provide some context on the recent moves in global equity markets and US Treasuries, as well as some suggestions on how to position portfolios in the current situation.

• (00:00) - Introduction: Helen Freer, Product & Investment Content