Saxo Market Call

In this special edition of the Saxo Market Call podcast, we take a 10,000 foot view of the crypto-currency market, its drivers, new innovations on the way, an assessment and ranking of risks for crypto investors, the declining Bitcoin dominance and underperformance relative to other cryptocurrencies and more. On the pod are Mads Eberhardt, our resident crypto-currency specialist and Peter Garnry, with John J. Hardy hosting. Recorded Tuesday, April 27, 2021.

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Today's slide deck: https://bit.ly/3t8CsL6   -

Today we run through the FOMC non-event that kept the Fed in wait-and-see mode as expected, although it was sufficiently dovish to trigger a slightly lower anticipation of eventual Fed tightening and a weaker US dollar. We also look at Biden's address on his stimulus and tax proposals, important inflation expectations considerations for the development in US yields, EU yields as the German Bund trades at critical support, how EU yields are driving EURJPY, and not least, run through Apple's latest strong result and earnings reports on the docket for today. Today with Peter Garnry on equities, Althea Spinozzi on fixed income, and John J. Hardy hosting and on FX.

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Today's slide deck: https://bit.ly/3aKNJup   -

US yields spiked yesterday after a 7-year treasury auction, unsettling yield-sensitive assets from momentum stocks to the Japanese yen and even gold. Today we look at this development, preview the FOMC meeting tonight, have a look at stellar results from Delivery Hero and Google-parent Alphabet, the big correction in corn after its recent spike, AUD after a weak CPI data point, preview incoming earnings and more. Today with Peter Garnry on equities, Althea Spinozzi on fixed income, Ole Hansen on commodities and John J. Hardy hosting and on FX.

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Today's slide deck:  https://bit.ly/3gGMbFz   - 

Today we look at continued strength in equity markets on earnings optimism, particularly in Europe, look at JP Morgan's shifting attitudes on the cryptocurrency space, talk Tesla results, note that grains and copper are on fire, look at drivers for the strong South African rand, run down upcoming earnings and much more. On today's pod were Peter Garnry on equities, Mads Eberhardt on Crypto, Ole Hansen on commodities, and John J. Hardy hosting and on FX.

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Today's slide deck:  https://bit.ly/3xxLV1Z   -

Today we look at a massive week ahead for the equity market as the earnings season swings into full gear and a bevy of megacap and other names are out reporting. Tonight sees Tesla reporting after the US close, with tough expectations hurdles to clear. Elsewhere, we look at whether US treasury and EU sovereign yields are set to pull back higher, look at why AUDUSD hasn't yet flown to new highs despite surging metals prices and more. On today's call were Peter Garnry on equities, Althea Spinozzi on fixed income, Ole Hansen on commodities, and John J. Hardy hosting and on FX.

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Today's slide deck:  https://bit.ly/32D6nAd   -

Today we look at US President Biden looking to nearly double the capital gains tax in an American Families Plan to be delivered at a joint session of Congress next Wednesday and the implications for assets. If Biden is able to push through the planned changes for the US tax code, it would represent the largest policy shift since the Reagan Revolution. The announcement triggered a sell-off in equities and crypto. Elsewhere, we look at the effect of ambitious climate targets announced at a climate summit yesterday in the equity space and inflationary pressures in Europe from carbon pricing and globally from a further rise in food prices. On today's pod were Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

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Today's slide deck:  https://bit.ly/3dBPvQy    -

Today we sound a note of caution on seasonality and rather extreme bullish sentiment, even as corporate earnings are performing very well as earnings reports continue to roll in. We also weigh in on the rising tide of anti-trust risks for the megacaps, the ECB today, US treasuries, gold and silver having a go at re-establishing an up-trend, the Bank of Canada surprise yesterday, earnings reports up today and more. On today's pod were Peter Garnry on equities, Althea Spinozzi on fixed income, Ole Hansen on commodities, and John J. Hardy hosting and on FX.

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Today's slide deck:  https://bit.ly/2P6Q6jI   -

Today we look at a "classic" episode of highly correlated risk-off across markets, as equities suffered another ugly session in the US, followed by an even uglier session in Japan on concerns of new Covid lockdowns there, while the USD, JPY and safe haven bonds enjoyed broad strength. Netflix results and guidance added to the negative energy and we look at incoming earnings elsewhere, as well as key signs of a budding political revolution in Germany that could change the face of Europe after the September election. Finally, we discuss a key nomination hearing today for "anti-trust icon" Lina Khan, who would join the FTC if approved. On today's pod were Peter Garnry on equities and John J. Hardy hosting and on FX.

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Today's slide deck:  https://bit.ly/3dvhLnV   -

Today we look at EU yields pulling sharply higher yesterday, adding pressure for the ECB to respond one way or another at its meeting on Thursday. Elsewhere, the USD is sinking fast, commodity prices are rising, US equities wobbled ahead of an interesting test of sentiment on the Netflix earnings call today. This an more on today's pod, with Peter Garnry on equities, Althea Spinozzi on fixed income, Ole Hansen on commodities, and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic

Today's slide deck:  https://bit.ly/3ajZaJC  - 

Today we look at the meltdown in the crypto space at the weekend and the risk for the ARK, Coinbase etc as bubble stocks were already under pressure late last week. Also a look at commodities after a nearly across the board revival of the space last week, also as the USD has come under pressure. Gold has teased above important resistance as well. The big focus this week will be on Q1 earnings, and we take listeners through the key names reporting this week across a wide array of industries. On today's call were Peter Garnry on equities, Ole Hansen on commodities, and John J. Hardy hosting and on FX.

Intro and outro music by AShamaluevMusic