Moving Markets
Moving Markets is the home of podcasts at Julius Baer. Here, our expert teams share concise daily market updates in ‘Moving Markets Daily’ which is complemented by ‘Moving Markets: The View Beyond’, a weekly show dedicated to discussing the context, thematic angles, and investment implications behind key topics shaping the news cycle and conversations among our relationship managers and clients. The information contained in this podcast is marketing material. Opinions expressed do not constitute independent financial/investment research, investment advice, or an offer to buy or sell securities by Julius Baer. Please refer to www.juliusbaer.com/legal/podcasts for importan...
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The View Beyond: Why the short end looks sweet
<p>With yields at historically attractive levels and the yield curve offering attractive opportunities, fixed income is drawing renewed attention from investors seeking both income and capital preservation. But is the short end of the curve really as appealing as it seems—and what should investors know about the risks and rewards?</p><p>In this episode, Ayako Lehmann, Head of Webcasts & Video at Julius Baer, is joined by Roman Frey, Head of CIO Office Global Fixed Income and voting member of the Fixed Income Investment Committee. Together, they explore why fixed income deserves a place in every portfolio, the im...
The NVIDIA rally yesterday and Kevin Warsh's speech today
<p>NVIDIA added USD 442 billion to its market capitalisation yesterday, with gains spreading beyond chipmakers into software and cybersecurity stocks amid strong earnings releases. Political uncertainty and debt concerns weighed on French markets ahead of the country's first presidential debate yesterday evening. A two-year Japanese government bond auction saw relatively weak demand amid growing expectations of Bank of Japan tightening next month. Reports suggest Venezuela may leave OPEC, potentially weakening the organisation's influence. The focus today is on Kevin Warsh's highly anticipated Jackson Hole speech. What can we learn from past speeches by Fed presidents at Jackson Hole? Tim Gagie...
NVIDIA delivers fuelling the AI trade
<p>Markets traded largely sideways ahead of the earnings release from NVIDIA, the world’s most valuable company by market capitalisation. After the US market close, the company once again exceeded expectations, delivering stronger-than-anticipated guidance and sending its shares more than 4% higher in after-hours trading. Elsewhere, US inflation data came in slightly above forecasts, prompting a modest rise in Treasury yields. In today’s episode, we welcome Carsten Menke, Head of Next Generation Research, to discuss the outlook for the copper market, the key forces shaping supply and demand, and where prices could be heading next.</p><p></p>(00:00) - Intr...
Falling oil prices calm markets ahead of inflation test
<p>Markets found their footing yesterday despite an intensification of US sanctions on Iran, as traders focused on the shift towards economic rather than military pressure and the resulting decline in oil prices. Equity markets generally moved higher, led by gains in technology shares, while Germany’s stronger-than-expected economic growth figures added to the constructive backdrop. Attention now turns to today’s US inflation data and Nvidia’s earnings report, two events that could shape the market direction in the days ahead. Dario Messi, Head of Fixed Income Research, shares his views on Treasury buybacks, fiscal policy and the outlook for US...
Equities pause for breath ahead of Big Tech earnings
<p>Both the S&P 500 and the Nasdaq Composite ended Monday's trading session lower as chip stocks faltered, while the Dow Jones gained 0.25% on the day. It was a similar story in Asia this morning as investors digested the potential ramifications of 'Operation Economic Outcast', while awaiting not only Nvidia's and Marvell Technology's results and US PCE data tomorrow, but also a highly anticipated speech by Kevin Warsh at Jackson Hole this Friday. </p><p>Damien Ng, Next Generation Research, joins the podcast today to provide his take on the good news last week from the Moderna/Merck cancer trials...
US inflation data, Nvidia, and Jackson Hole will shape the week ahead
<p>Stronger-than-expected US PMI data could not save equities from a down week as rising bond yields and the Treasury's bond-buying intervention renewed dollar debasement fears, fuelling a blistering rally in gold and Bitcoin. Trade tensions returned as US-Canada talks collapsed over the weekend, and investors brace for a pivotal week featuring NVIDIA earnings and Fed Chair Warsh's Jackson Hole address. Mensur Pocinci, Head of Technical Analysis, looks at the recent US dollar weakness from a technical perspective and what it means for other asset classes.</p><p></p>(00:00) - Introduction: Helen Freer, Product & Investment Content (01:06) - Markets wrap-up: Jan...
The View Beyond: Strong Q2 earnings season supports broader equity story
<p>The Q2 earnings season delivered a strong set of results, with positive surprises across sectors and regions. As investors look ahead to the remainder of the year, the broadening of earnings growth and market participation is creating opportunities beyond the dominant AI and technology themes.</p><p>In this episode, Mathieu Racheter, Head of Equity Strategy at Julius Baer, talks to Helen Freer about the key takeaways from the Q2 earnings season. They explore sector performance, forward guidance provided by companies, the ongoing strength of the AI investment cycle, and the implications of increased competition and monetisation in AI...
Stocks dip as oil and bond yields rise
<p>Markets largely dipped yesterday as geopolitical tensions, rising oil prices and disappointing guidance from Walmart weighed on investor sentiment. After yields fell on Wednesday following the announcement from the US Treasury of doubling buybacks of longer-term debt, yesterday they resumed their upward trend yesterday, even after Treasury Secretary Bessent suggested further increases to the buyback programme. Tim Gagie, Head of FX Advisory in Geneva, joins the show today to talk about the impact of the Treasury’s announcement on the US dollar, and he also shares his latest thoughts on precious metals.</p><p></p>(00:00) - Introduction: Bernadette Anderko, Pr...
Fed Minutes trumped by US Treasury announcement
<p>The US Treasury provided a boost to bond and equity markets yesterday, announcing that it will more than double repurchases of 10, 20, and 30-year debt in the next few months. This saw the long bond yield fall 10 bps from its 19-year high on Tuesday, to 5.184%. Gold had its best day since March. US stock markets also closed up on the day with Moderna and Merck providing a boost. Asian equity markets continued the rally overnight and the KOSPI leapt over 6% after SK Hynix announced a big stock buyback. Carsten Menke, Head of Next Generation Research, joins the podcast today to...
Bonds in freefall, tech in trouble
<p>A global bond sell-off sent yields to multi-year highs, dragging equities lower as tech stocks bore the brunt amid persistent inflation concerns. Yet Bank of America's fund manager survey reveals remarkably bullish positioning, with investors reducing cash and piling into equities on hopes of a soft landing and faith in the AI boom. Dario Messi, Head of Fixed Income Research, shares his views on the latest bond selloff and the drivers behind the move. We also speak with Nenad Dinic from our Equity Strategy Research team about European equities and where he sees opportunities in the region as we...
