Quarterly Outlook
Macro Outlook: The US rate cut cycle has begun
Peter Garnry
Chief Investment Strategist
Summary: Today we look at an ugly day for global equity markets, with a bloodbath in Europe yesterday on a suddenly over-ambitious ECB that surprised with maximum hawkishness and spiked European rates, even if this ECB will hardly be able to carry out significantly more tightening than its global central bank peers from here. The Bank of England, meanwhile, surprised on the dovish side, taking down sterling several notches. We also look at natural gas and commodity backwardation perspectives, an interesting signal from First Quantum Mineral's run-in with Panama's government, earnings for the week ahead and more. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Listen to today’s podcast - slides are available via the link.
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