Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Global Head of Macro Strategy
Summary: Markets are on technical and even an emotional edge as Trump tariffs have gone forward and as speculation swirls that Trump will announce something particularly dramatic at a speech later today. From currencies and gold to US tech and European defense, we have a look at what may come next, including the risk of a big risk-off "whoosh" here. Today's pod features Saxo Head of Commodities Strategy Ole Hansen and Saxo Global Head of Macro Strategy John J. Hardy.
Listen to the full episode now or follow Saxo Market Call on your favorite podcast app:
Link to today's slide deck: