The US and the UK agreed a new trade deal yesterday, making the UK the first country to reach a deal with the US since US President Trump introduced new tariffs a month ago. Although this boosted global market sentiment, with US and European markets closing higher, UK stocks underperformed. The deal also weighed on safe-haven assets like US Treasuries and gold. Meanwhile, the Bank of England’s rate cut by 25 basis points was seen as a supportive move for the UK economy. Asia-Pacific markets were largely higher overnight, buoyed by China's stronger-than-expected export growth in April and a narrowing import decline, which brings some relief to Beijing ahead of tariff talks with the US this weekend. Joining us to discuss the latest developments in foreign exchange and metals markets is Tim Gagie, Head of FX and Precious Metals Solutions in Geneva.00:00 Introduction: Helen Freer, Investment Writing00:27 Markets wrap-up: Lucija Caculovic, Investment Writing07:26 FX and metals: Tim Gagie, Head of FX & PM Solutions Geneva11:45 Closing remarks: Helen Freer, Investment WritingWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.
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12:58
Fed says ‘No’ to pre-emptive rate cuts
The US Federal Reserve kept interest rates unchanged at its policy meeting yesterday and Chair Jerome Powell made it clear that with inflation still running above target, the Fed has no intention of cutting rates pre-emptively. He also warned that if tariff levels remain where they are, then a risk is posed to economic growth and inflation. Dario Messi, Head of Fixed Income Research, provides more insight into the Fed’s decision making and its market impact on today’s show and Norbert Rücker, Head of Economics & Next Generation Research, provides a timely update on the oil market, sharing his insights into the latest market events.00:00 Introduction: Helen Freer, Investment Writing00:38 Markets wrap-up: Bernadette Anderko, Investment Writing06:49 Oil update: Norbert Rücker, Head of Economics & Next Generation Research10:22 Bond market update post-Fed: Dario Messi, Head of Fixed Income Research17:36 Closing remarks: Helen Freer, Investment WritingWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.
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18:46
Markets are taking a breather ahead of the Fed meeting
It took two attempts, but German conservative leader Merz was elected chancellor by parliament on Tuesday after an unprecedented defeat on the first attempt got his coalition government off to a wobbly start. Market sentiment took another U-turn yesterday, with global equities falling back for a second day ahead of today’s US Federal Reserve rate decision. News that trade negotiations are going well and that initial US and China trade talks will take place this Saturday did little to improve investors’ mood. Richard Tang, Head of Research in Hong Kong, discusses how markets reacted to the news and provides more details on Beijing’s policy measures as well as the geopolitical tensions between India and Pakistan.00:00 Introduction: Bernadette Anderko, Investment Writing00:28 Markets wrap-up: Jan Bopp, Investment Writing06:09 Asia update: Richard Tang, Head of Research Hong Kong14:29 Closing remarks: Bernadette Anderko, Investment WritingWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.
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15:37
US stocks stumble amid FX fluctuations
US equities struggled yesterday as the S&P 500 index snapped its nine-day winning streak with a modest rotation into defensive stocks. Meanwhile, the broad US dollar sell-off against Asian currencies is fuelling speculation that regional economies are allowing their currencies to strengthen to gain leverage in US trade negotiations. Also on today’s podcast, we are joined by Nenad Dinic, Equity Strategy Research, who shares his insights on Japan as well as the recent outperformance of emerging markets relative to developed market equities.00:00 Introduction by Helen Freer (Investment Writing)00:28 Markets wrap-up by Jonti Warris (Investment Writing)06:20 Japan and EM Asia equities by Nenad Dinic (Equity Strategy Research)12:04,8 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or your favourite podcast player.
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13:13
Stocks rebound, USD weakens, Buffett steps down
Global equity markets have largely recovered their losses since 2 April, or Liberation Day, with Australia, Mexico and Germany's DAX among the best performers. Warren Buffett will step down as the CEO of Berkshire Hathaway at the end of the year after 45 years. Brent oil falls below USD 60 a barrel, a four-year low, after OPEC+ announces further supply increases. The Taiwan dollar has jumped 5% against the USD, its biggest intraday gain in 30 years, sparking speculation that Asian countries are seeking to revalue their currencies to win US trade concessions. Mensur Pocinci, Head of Technical Analysis Research, notes that Germany's DAX index is within 2% of its all-time high, reflecting its relative strength against US equities.00:00 Introduction: Helen Freer, Investment Writing00:31 Markets wrap-up: Mike Rauber, Investment Writing06:28 Technical Analysis update: Mensur Pocinci, Head of Technical Analysis10:37 Closing remarks: Helen Freer, Investment WritingWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.
Moving Markets is a daily market news briefing from Julius Baer. Our experts discuss the latest market developments and put the headlines in perspective to set you up for the coming day. 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 important legal information prior to listening to this podcast.
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