Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
Access both platforms from your single Saxo account.
Crypto Update: Deep pockets and long profits
Jacob Pouncey
Cryptocurrency analyst, Saxo Bank Group
This week the entire crypto market capitalisation rose 3% to just over $420bn. Similarly, Ethereum rose 3% over the week. Conversely, Bitcoin fell by 3% to trade slightly north of $9,000 for the week. The Bitcoin price last month represented the smallest monthly trading range since October of last year, possibly representing a continued cooling and tightening of the cryptocurrency market.
Coinbase valued at $8 billion
Details leaked from sources at the US-based exchange state that during the recent acquisition of Earn.com with cash and stock, Coinbase valued itself at $8bn. This represents a five-fold increase since its last round of fundraising in which it took in $100 million in August of last year. Coinbase is one of the largest exchanges by users, however, there are numerous exchanges with more volume than Coinbase.
Binance earns more profit than Deutsche
One of the largest exchanges by volume, Binance, which recently relocated to Malta, posted a record profit of $200m in the first quarter of this year and only the second quarter in the history of the company. With only about 200 employees, the company posted more profit than Germany’s biggest bank, Deutsche Bank, which recently announce a more than 10% reduction in its US workforce. Deutsche posted $146m over the same period.
Chipmakers celebrate record Q1 profits
Chipmakers such as AMD and Samsung are seeing strong revenue growth on the back of cryptocurrency miners. AMD stated that as much as 10% of its Q1 revenue was from mining demand, representing a 40% increase in revenue from the prior year. Samsung posted a 58% y-o-y growth in Q1 operating profits thanks to the increase in demand for its mining chips. Samsung expects demand for mining chips will continue to expand in Q2.
Latest Market Insights
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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