Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
You can access both of our platforms from a single Saxo account.
Chinese trade data show no signs of war... yet
Michael McKenna
Head of Editorial Content, Saxo Bank
While the latest Chinese trade data published overnight showed what Saxo Bank Head of FX Strategy John Hardy terms a "respectable surplus" with exports up 6% year-on-year, the release is hardly a sign that the Sino-US trade war is a paper tiger.
"The situation in China is far from stable and we expect further escalation of the trade war," says Saxo Bank Head of Equity Strategy Peter Garnry, adding that Chinese stocks fell another 1.6% overnight after rallying Tuesday.
"The Chinese appetite for commodities has not yet been meaningfully impacted by the trade war," says Saxo commodities head Ole Hansen, but like his SaxoStrats counterparts, Hansen remains of the view that the tariff-centred dispute will show up in later data releases.
In FX overnight, EURUSD and USDCAD posted bounces while EURGBP hit a new 2018 high on Brexit fears.
In commodities, Hansen points to the US Energy Information Administration lowering its US production growth forecasts for both 2018 and 2019 due to bottleneck issues, while Peter Garnry reports that Tesla shares are up 11% on a new secured funding plan (contingent on shareholder approval) announced by Elon Musk that would take the company private at a bill of $420/share.
For more on equities, forex, and commodities, as well as China, Tesla, and trade, watch today's Morning Call in full.
Quarterly Outlook
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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
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 ... -
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
Commodity Outlook: Gold and silver continue to shine bright
Ole Hansen
Head of Commodity Strategy
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Quarterly Outlook
FX: Risk-on currencies to surge against havens
Charu Chanana
Chief Investment Strategist
Explore the outlook for USD, AUD, NZD, and EM carry trades as risk-on currencies are set to outperfo... -
Quarterly Outlook
Equities: Are we blowing bubbles again
Peter Garnry
Chief Investment Strategist
Explore key trends and opportunities in European equities and electrification theme as market dynami... -
Quarterly Outlook
Macro: Sandcastle economics
Peter Garnry
Chief Investment Strategist
Explore the "two-lane economy," European equities, energy commodities, and the impact of US fiscal p... -
Quarterly Outlook
Bonds: What to do until inflation stabilises
Althea Spinozzi
Head of Fixed Income Strategy
Discover strategies for managing bonds as US and European yields remain rangebound due to uncertain ... -
Quarterly Outlook
Commodities: Energy and grains in focus as metals pause
Ole Hansen
Head of Commodity Strategy
Energy and grains to shine as metals pause. Discover key trends and market drivers for commodities i...
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