Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
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Energy shares rise on crude oil rally
Michael McKenna
Head of Editorial Content, Saxo Bank
The Iran deal-led rally in crude oil prices has spurred energy shares to surpass their January highs with Saxo Bank head of equity strategy Peter Garnry pointing to strong momentum and big inflows as the direct catalyst.
In today's Morning Call, Garnry shared the following breakdown of the energy-sector shares in Saxo's equities model, pointing to strong fundamental scores nearly across the board.
Elsewhere in stocks, Swiss-based luxury conglomerate Richemont disappointed markets in revenue and gross margin terms, reporting operating profits of $1.84 billion versus $2.6bn expected by analysts as well as an excess supply of watches.
In Italy, Garnry says that equity investors could face headline risks over the weekend from Rome's new populist government, stating that short-term investors might not want to hold positions through what could be a turbulent period.
The broad strength seen in equities along with a slight miss in Japanese CPI overnight and high US 10-year yields saw USDJPY reach new highs, but Saxo Bank head of forex strategy John Hardy's focus today is on USDCAD ahead of a March retail sales print and April CPI data out of Ottawa.
Quarterly Outlook
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Quarterly Outlook
Equity Outlook: The ride just got rougher
Charu Chanana
Chief Investment Strategist
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Quarterly Outlook
China Outlook: The choice between retaliation or de-escalation
Charu Chanana
Chief Investment Strategist
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Quarterly Outlook
Commodity Outlook: A bumpy road ahead calls for diversification
Ole Hansen
Head of Commodity Strategy
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Quarterly Outlook
FX outlook: Tariffs drive USD strength, until...?
John J. Hardy
Global Head of Macro Strategy
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Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
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Quarterly Outlook
Equity Outlook: Will lower rates lift all boats in equities?
Peter Garnry
Chief Investment Strategist
After a period of historically high equity index concentration driven by the 'Magnificent Seven' sto... -
Quarterly Outlook
Commodity Outlook: Gold and silver continue to shine bright
Ole Hansen
Head of Commodity Strategy
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Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
The Fed started the US rate cut cycle in Q3 and in this macro outlook we will explore how the rate c... -
Quarterly Outlook
FX Outlook: USD in limbo amid political and policy jitters
Charu Chanana
Chief Investment Strategist
As we enter the final quarter of 2024, currency markets are set for heightened turbulence due to US ...