Quarterly Outlook
Equity outlook: The high cost of global fragmentation for US portfolios
Charu Chanana
Chief Investment Strategist
Saxo’s Quarterly Outlook has been published, and can be accessed on the SaxoTraderGO here or web here
1230 – US Mar. Nonfarm Payrolls Change
1230 – US Mar. Unemployment Rate
1230 – US Mar. Average Hourly Earnings
1230 – Canada Mar. Employment Data
1525 – US Fed Chair Powell to speak on economic outlook
Next week:
For all macro, earnings, and dividend events check Saxo’s calendar.
Volatility
The VIX surged 39.56% to 30.02, its highest level since August, reflecting rising fear after Thursday’s sell-off. Short-term volatility exploded, with VIX1D +26.8% and VIX9D +40.4%, signaling heightened anxiety into today’s payrolls report and Powell speech. While VX futures (VX1) held steady, intraday swings remain likely. In Europe, VDAX spiked 13%, mirroring the DAX’s 3% drop, with DAX options volume up 44% and skew slightly elevated—implying continued hedging activity, but not full-blown panic.
Digital Assets
Crypto held relatively firm despite the global risk-off mood. Bitcoin +0.03% to $83,191, while Ethereum -0.62%, and XRP +0.36%. XRP outperformed after Coinbase filed to launch XRP futures, citing its liquidity and regulatory clarity after Ripple’s partial legal win. Crypto-related stocks plunged—Coinbase (-6.66%), MicroStrategy (-9.76%), and miners like Marathon and Riot fell nearly 10%. Traders are watching if the Fed might ease sooner, which could rekindle crypto appetite—but for now, caution reigns amid recession fears.
Fixed Income
Commodities
For a global look at markets – go to Inspiration.
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