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0:00 Intro

1:02 AI optimism fuels rally

1:40 The Memory Chip Talk

5:13 Data and rates

6:36 Earnings & risks

0:00 Intro

1:00 Middle East – newest

4:03 Meanwhile, global yields remain at uncomfortable levels

6:31 Eyes on inflation numbers

8:34 And beneath the equity rally…

0:00 Intro

1:09 SpaceX

4:14 OpenAI

5:57 Anthropic

7:22 Buy or Not To Buy?

1:04 Market recap

3:07 Oil risks

6:02 Widening market breadth

7:01 Mega Tech IPOs!

0:00 Intro

1:02 Nvidia blows past expectations, again

4:28 Macro news are less encouraging

0:00 Intro

0:48 Market update: rising yields, falling equities

4:09 Nvidia earnings: what to watch?

Japan’s bond yields are rising to levels that were unthinkable just a few years ago, and markets are starting to ask whether the next reverse carry trade is already building beneath the surface.

As the Bank of Japan slowly exits decades of ultra-loose monetary policy, higher Japanese yields could encourage investors to bring money home, reducing demand for US Treasuries and tightening global liquidity conditions. The last major reverse carry episode in August 2024 triggered a sharp selloff in global equities, with the Nikkei plunging nearly 20% and the Nasdaq dropping around 14%.

This time, the risk could become more structural — especially as rising oil prices, sticky inflation, and stretched AI valuations increase pressure on global markets... or not!

Listen to find out more!

Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025.

0:57 Global yields surge

3:23 Equities under pressure

4:25 Major central bank expectations turn hawkish

7:29 This week, watch UK CPI, FOMC minutes & Nvidia earnings!

Markets are ending the week in full euphoria mode. The S&P 500 and Nasdaq hit fresh record highs as investors continue piling into AI stocks despite rising inflation, surging bond yields and escalating geopolitical tensions in the Middle East. Oil prices climbed back above $100 per barrel, Japanese yields pushed far beyond levels once considered dangerous for global carry trades, and US consumers are increasingly struggling with debt repayments. Yet none of it seems capable of slowing the AI rally.

In this episode, we dive into why investors are ignoring the macro warning signs, how massive AI spending is increasingly financed through debt markets, why rising yields could become a real problem for Big Tech valuations, and whether the market is underestimating the risk of another period of sticky inflation.

Listen to find out more

Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025.

As the world slowly decreases exposure to the US dollar and Treasuries, the concept of the “petro-yuan” is gaining momentum, referring to the growing use of China’s currency in oil and other goods trade.

In this episode, we dive into how to build exposure to a rising China, the challenges and the opportunities.

Listen to find out more!

Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clients. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025.