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.
Euro rises, oil plunges – caution warranted
Clare MacCarthy
Senior Editor, Saxo Bank Group
The weekend's big story was Italy's descent into political chaos after the country's president blocked the appointment of a eurosceptic candidate for finance minister and the populist/anti-establishment pairing working to form a government abandoned their attempt.
"The big question now is whether we'll get an election or a technocrat government. What is certain is that this isn't good for the market and it's not good for Italian BTBs and corporate bonds," says Althea Spinozzi, from Saxo’s bond trading desk.
However, the possibility of a technocrat government rather than a deeply anti-EU one saw the euro break higher with the common currency bounding up from a six-month low early Monday. But one should be cautious here, says John J Hardy, Saxo’s head of forex strategy. "This situation is far from over and I'd be wary of going with the relief rally for now," he says, adding that headline risks are probable throughout the week.
The other big story in markets today is a dramatic reversal of fortune for crude oil which saw Brent take a deep dive as hedge funds accelerated their selling on the outlook to Opec and Russia relaxing their production cuts. The key level of $71.40 is now back in play, barring any modifications by Opec or Russia to their comments last week about loosening their restrictions on output.
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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