Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Summary: Today we look at a US equity market that posted a nervy session yesterday, with a surge after the close from less bad Meta news than feared. We still assess that the market is trading heavily, with additional danger from a surging US dollar as USDJPY surged to new 20-year highs on the Bank of Japan doubling down on its yield-curve-control policy and therefore deepening its loss of control over its balance sheet. We also look at more earnings ahead, including Apple and Amazon tonight, edible oil prices a concern for global food inflation, gold, FX themes and more. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Listen to today’s podcast and have a look at today’s slide deck.
Follow Saxo Market Call on your favorite podcast app: