Moving Markets
Moving Markets is the podcast channel of Julius Baer, a Swiss bank. It features 'Moving Markets Daily' with concise daily market updates and 'Moving Markets: The View Beyond', a weekly show discussing key topics shaping the news cycle and investment implications. The content is aimed at relationship managers and clients, providing expert insights on financial markets.
Episodes
Markets under pressure: gold, rates, and rising tensions
While European markets proved more resilient, US equities declined amid renewed escalation in the Middle East and fresh inflation data highlighting mounting pressure on US household budgets, driven in part by higher energy costs. In today’s episode, Carsten Menke, Head of Next Generation Research, shares his outlook on gold and silver in this environment. We also hear from Dario Messi, He
Fragile ceasefire meets IPO revival
Markets saw a cautious session yesterday, as investors remained on edge amid ongoing Middle East uncertainty, with both European and US equities ending broadly lower. Overnight, tensions escalated sharply, with US strikes on Iran followed by retaliatory actions across the Gulf, placing further strain on an already fragile ceasefire. Despite these developments, oil prices remained relative
All about tech – from semiconductors to data centres
European equities closed off their lows as oil reversed most of its early 5% gain after easing Middle East tensions, leaving Brent near USD 94. Weak German factory orders weighed on sentiment, while stocks diverged, with Zealand Pharma down 23% and Banca Monte dei Paschi up 13% on takeover news. In the US, technology led gains as chip stocks rebounded, though sentiment softened after Appl
Tech sell-off widens as Asian markets dive
The market reaction to Friday’s better-than-expected US jobs report started bad and got worse. The Nasdaq closed down 4.2%, marking its steepest decline since April 2025, following ‘Liberation Day’. The sell-off spread to Asia this morning, where investors slammed the brakes on the red-hot AI rally. South Korea’s KOSPI fell by more than 8%, triggering circuit breakers. Mensur Pocinci, Hea
The View Beyond: Thoughts from our CIO on how to invest in a crisis
The role of a Chief Investment Officer is multifaceted – acting as both the guardian and the architect of a company’s investment process, and preventing people from making mistakes that might destroy value. A key requisite for the job is the ability to stay calm amid the panic when a global crisis hits.In this special edition of The View Beyond, produced jointly with the World Economic Fo
A reality check for AI?
Markets delivered a mixed session yesterday, driven by geopolitical tensions, a sharp semiconductor sell-off following Broadcom’s disappointing results, and steady macro data from Switzerland and the US. Oil remained driven by developments in the Middle East, while gold fluctuated alongside moves in the dollar and bond yields. European equities closed higher despite lingering uncertainty,
From record highs to a reality check – Julius Baer Group CIO Yves Bonzon on markets
The S&P 500 snapped its nine-day winning streak yesterday, as renewed tensions in the Middle East dented risk sentiment, and momentum in the AI-driven rally eased. At the same time, bond yields pushed higher on the back of resilient labour market data, reigniting concerns that inflation pressures may persist. In today’s episode, our Group CIO Yves Bonzon shares his latest perspectives
Who will be the next trillion-dollar tech giant?
AI fever is fuelling a fresh wave of market excitement, with soaring valuations and high-profile endorsements pointing to the next potential trillion-dollar tech company. With major players doubling down on artificial intelligence, investor confidence remains resilient despite rising eurozone inflation and mounting expectations of another ECB rate hike. Meanwhile, Afonso Borges from our F
Geopolitics push oil higher while AI momentum powers US markets
Markets were mixed yesterday, with Middle East tensions driving a sharp rise in oil and weighing on sentiment. European equities edged lower, while all three major US indices reached fresh highs, supported by strong momentum in AI-linked names. Macro data showed a divided backdrop — resilient manufacturing in Asia, slowing growth and rising cost pressures in the Eurozone, modest but impro
Markets boosted by AI as they shrug off the lack of a deal
US equity indices closed the week at new record highs, topping off a winning month as tech stocks once again provided the momentum. Despite no agreement emerging between the US and Iran, and indeed continued strikes over the weekend, many of Asia’s key indices also saw gains this morning with the Kospi and Nikkei 225 soaring to new heights. It’s therefore timely that Mensur Pocinci, Head
The View Beyond: Waiting for the gold rally to resume
After a period of relative calm, gold has re-emerged as a focal point for investors amid geopolitics, shifting central bank strategies, and evolving global demand. How should investors interpret gold’s recent volatility, and what does the outlook hold as we move through 2026?In this episode of Julius Baer’s Moving Markets:The View Beyond, Ayako Lehmann is joined by Carsten Menke, Head of
US equities at all-time highs, while oil plunges in May
US equities surged to record highs on optimism over a potential US–Iran ceasefire extension, with the S&P 500, Nasdaq, and Russell 2000 all closing at all-time highs yesterday. Oil prices fell sharply and are on track for their steepest monthly decline since March 2020. US economic data was mixed, pointing to slowing growth and increasing pressure on household finances. Technology rem
Oil swings and AI soars: US markets hit new highs
Oil prices are swinging on every twist in the Middle East, while AI continues to dominate global markets. Europe’s stocks are under pressure from high energy costs, but in the US, AI momentum is driving major indices to fresh record highs. In today’s episode, Carsten Menke, Head of Next Generation Research, dives into copper, and why electrification is set to shape markets for years to co
More chip makers join the USD 1 trillion market-cap club
Global equities extended their record rally as momentum in technology shares accelerated and geopolitical tensions eased. Micron and SK Hynix have joined the USD 1 trillion market-capitalisation club, fuelled by surging demand for AI chips. This milestone underscores the growing dominance of semiconductor companies in global markets, with ripple effects from Seoul to Silicon Valley. Mensu
AI rally meets weak consumers, and healthcare innovation
Despite US consumer confidence falling to a record low, the S&P 500 extended gains last week, driven by semiconductors, as AI enthusiasm remains strong and crowded. Global equities also advanced, led by Europe and Japan. Kevin Warsh was sworn in as Fed Chair, while Governor Waller emphasised inflation risks. Middle East tensions remain volatile, with shifting ceasefire prospects, US m
The View Beyond: From petrodollars to a new world order?
The petrodollar system has long been a cornerstone of global finance, underpinning the US dollar’s dominance for decades. But as energy markets shift, and talk of de-dollarisation grows louder, is this system now fading? And what could that mean for the future global order?In this episode of The View Beyond, Jan Bopp is joined by Julius Baer’s currency strategist, David Meier, and Norbert
Markets steady despite weak data and geopolitical crosscurrents
Markets remained choppy as weak PMI data across Europe and the UK signalled slowing growth, while US data painted a mixed but still resilient picture. Oil prices were volatile amid shifting headlines around Iran, underlining ongoing geopolitical sensitivity. Equities in both Europe and the US ended modestly higher despite intraday swings, with pockets of strength in sectors like satellite
Stocks rally as oil prices and bond yields retreat on peace hopes and AI boost
European and US stock markets rallied yesterday after President Trump hinted that the US administration is in the final stages of an agreement to end the war with Iran. The 10-year US Treasury shaved 9 basis points off the previous session’s yield. Asian markets were further boosted overnight by an impressive set of results from NVIDIA. Warnings did come in from the Fed though, in the for
Bond sell-off rattles markets ahead of Nvidia earnings
US markets dipped amid rising long-term bond yields, with the 30-year Treasury hitting the highest level in almost two decades fuelled by inflation fears and potential Fed tightening. Geopolitical tensions and key upcoming catalysts, including Nvidia’s earnings and FOMC minutes, keep investors on edge. Dario Messi, Head of Fixed Income Research, explains what is behind the recent surge in
Markets caught between peace hopes and rising tensions
Global equities are caught between hopes for a peace deal and rising Middle East tensions, with Brent fluctuating around USD 100 per barrel. In the US, strong market breadth contrasts with weakness in technology stocks, weighing on major equity indices. Japan and Switzerland posted stronger-than-expected Q1 growth, highlighting resilience despite geopolitical tensions and high oil prices.
Yields surge, oil climbs: is a market reality check coming?
Global markets are kicking off the week on the back foot as government bond yields surge to multi-year highs, reigniting concerns about stagflation. Oil prices climbed another 2% overnight, with no quick resolution in sight for the ongoing Middle East tensions. In today’s episode, we’re joined by Mensur Pocinci, Head of Technical Analysis, who shares his outlook on whether US 10-year Trea
The View Beyond: The AI story behind US equity highs
Despite geopolitical tensions, US equity markets have reached record highs, with artificial intelligence at the heart of this surge. What is driving these historic moves? How are investors positioning themselves to both capture the opportunities and manage the risks? In this episode of The View Beyond, Bernadette Anderko is joined by Carsten Menke, Head of Next Generation Research at Juli
US–China progress lifts markets, but rate concerns temper tech optimism
Markets were driven by headlines from the Trump–Xi summit in Beijing, where progress on trade and a surprise easing of US chip export restrictions to major Chinese tech firms lifted sentiment, particularly in technology. European equities closed higher and US indices reached fresh record highs, supported by strong earnings from Cisco, although gains in Asia faded as rising Treasury yields
Risk-off mood deepens as inflation and oil jolt markets
Markets showed a broad risk-off tone on Tuesday, with equities weaker and bond yields moving higher. Oil prices surged as hopes for a US–Iran deal faded, stoking inflation concerns after stronger-than-expected US inflation data. Dario Messi, Head of Fixed Income Research, explains the implications for bond markets and shares his view on UK gilts amid ongoing political turmoil. And Nenad D
US tech rally continues while Europe lags and oil climbs
European markets were weighed down by declines in the luxury sector yesterday, as concerns over weakening global demand dampened sentiment. In contrast, major US indices reached fresh record highs, led by strong gains in the technology sector. Meanwhile, oil prices are climbing again this morning amid signs that the Middle East ceasefire may be unravelling. Today, we are joined by Dr. Dam
US equities up for six weeks in a row
Strong earnings and resilient jobs data are prompting markets to rule out rate cuts this year. Semiconductor stocks continue to lead gains across the US and Asia, with South Korea and Japan hitting new highs, supported by AI investment. Inflation pressures reflected in China’s data release, rising oil prices amid a fragile Middle East ceasefire, and broader geopolitical risks remain in fo
The View Beyond: Reading between China’s headline indices
Global equity markets have performed strongly, led by the AI-driven rally across the US, Japan, and Korea, while China’s headline indices have lagged in comparison. Yet beneath the surface, performance has been more nuanced, with parts of the market showing stronger momentum than index-level data suggests.In this episode, Richard Tang, China Strategist and Head of Research Hong Kong at Ju
Risk‑off mood returns as oil rebounds and uncertainty lingers
Markets remained on edge as ongoing uncertainty around a potential US–Iran agreement drove a clear risk‑off tone. European equities moved broadly lower, while US indices pulled back after briefly touching record highs, weighed down by weakness in technology and semiconductors. Oil prices proved volatile but ultimately rebounded, with both Brent and WTI holding elevated levels, while gold
Hints of a deal send stocks soaring
Hopes grew yesterday that the US and Iran might be able to seal a deal to end the conflict, with a memorandum of understanding apparently having been sent by the US to Iran. The oil price dropped and with it so did bond yields. Meanwhile, global stock markets continued to rally and were given a further boost by artificial intelligence firms and yet more good news from earnings calls. Norb
Semiconductors power markets to new all-time highs
Semiconductor stocks, from Intel to Samsung Electronics, are pushing US and Asian equities to new all‑time highs. Strong earnings from Anheuser‑Busch and Unicredit also lifted European markets. US services activity slowed in April, while inflation pressures stayed elevated. UK yields surged on inflation and fiscal concerns, Swiss data showed higher headline but subdued core inflation, and
‘Risk-off’ returns and big tech at a crossroads
After several days of solid gains, markets paused yesterday as risk aversion returned, driven by escalating tensions in the Middle East and a sharp rise in oil prices. European equities bore the brunt of the sell-off, while major US indices also closed lower. In today’s episode, we’re joined by Carsten Menke, Head of Next Generation Research, to unpack the outlook for hyperscalers followi
All-time highs and US naval escorts
Geopolitics continues to dominate as investors weigh mixed Middle East messages. Trump has signalled his openness to Iran talks while also warning of renewed conflict and saying the US will begin guiding ships through the Strait of Hormuz. Global equities are rallying on AI optimism and strong tech earnings, even as central banks stay cautious amid uneven growth and sticky inflation. A pi
The View Beyond: How can structured products help navigate current markets?
With geopolitical uncertainty and market volatility top of mind, investors are seeking tools to help navigate an increasingly complex landscape. How can structured products add value to portfolios in this environment?In this episode of Julius Baer’s Moving Markets: The View Beyond podcast, Helen Freer is joined by Yves Klenk, Head of Client Coverage and Advisory, and Maximiliano Ranieri,
Fed divided, AI earnings diverging, oil ever higher
The US Federal Reserve remains on hold but is the most divided since 1992. Kevin Warsh advanced in a key Senate vote to become the new chairman of the Fed next month. The ascent of the oil price continues amid reports of another military escalation. Major US technology firms reaffirmed heavy AI investment in their earnings releases, but results differed sharply across the companies report
Markets eye Big Tech earnings & final Powell rate call
Oil prices surged above USD 110 on supply concerns stemming from the stalled Iran war and news of an extended blockade of Iran. The rally was capped by historic news that the UAE will exit OPEC. In equities, AI-driven gains faltered amid questions about OpenAI’s growth prospects. With mega-cap technology firms Alphabet, Amazon, Meta, and Microsoft set to report earnings today, attention w
Cautious markets, rising oil and the next phase of AI
Markets started the week on a cautious note as geopolitics, central bank meetings and rising oil prices kept risk appetite in check. European equities slipped, while US indices hovered near record highs, supported by big tech, despite a pause in the semiconductor rally. AI remained firmly in focus after OpenAI signalled a shift in its relationship with Microsoft. Outside of tech, energy m
Risk back on? Earnings, central banks, and the next leg higher
Markets have kicked off the week on a strong note, with Asian - particularly tech - stocks rallying amid renewed diplomatic efforts to ease tensions in the Middle East and an exceptionally robust earnings season. The days ahead will be pivotal, with major central banks delivering key monetary policy decisions and several members of the “Magnificent 7” set to report earnings. In this episo
The View Beyond: Private infrastructure - Resilience & growth amidst volatility
In an environment marked by higher inflation, geopolitical uncertainty and increased market volatility, private infrastructure is regaining focus as a resilient allocation.In this episode of Moving Markets: The View Beyond, William Fong, Head of Alternatives Specialists Asia & Middle East at Julius Baer, speaks with Daniel McCormack, Head of Research at Macquarie Asset Management's Cl
Diverging data and higher oil price keep markets cautious
Global markets sent mixed signals as US data pointed to surprising resilience, while the eurozone slipped back into contraction. Rising energy prices remain a key concern, driving inflation pressures and weighing on confidence. Equity markets reflected this caution yesterday, with US tech stocks pulling back as several software names underperformed after reporting earnings. Meanwhile, sig
Fragile ceasefire extension sees global rally peter out
New record highs were set in the US trading session on Wednesday as markets embraced the ceasefire extension and more strong Q1 earnings. But despite Asian markets rallying at the open, they failed to hold onto their gains as investors’ focus returned to the fact that the Strait of Hormuz effectively remains closed for business. As EU leaders meet to discuss how to address the energy pric
Trump extends ceasefire unilaterally
Geopolitical tensions and a late ceasefire extension kept markets on edge. Equities were lower in Tuesday’s trading session as stocks ended near session lows. Strong nominal US retail sales and upbeat earnings clashed with fading optimism. Afonso Borges, Fixed Income Strategist, shares his takeaways from Fed Chair-to-be Kevin Warsh’s Senate hearing and the implications for bond markets. M
Geopolitics weigh on markets as Middle East tensions rise again
After a brief bout of optimism on Friday, concerns over a potential escalation between the US and Iran swiftly re-emerged yesterday. Oil prices climbed by around 5%, while equity markets came under pressure. Europe’s broad indices fell by roughly 0.8%, and all major U.S. indices closed slightly lower, with the Nasdaq snapping a 14-session winning streak. In today’s episode, we are joined
The View Beyond: When earnings meet geopolitics
The first quarter of 2026 has presented investors with complex and worsening financial conditions, volatile oil prices, and heightened geopolitical tensions. Q1 earnings are already being reported, and so far, the indications have been promising. What are the expectations for the rest of the season? And what should investors be watching out for?In this episode of The View Beyond Podcast,
Nasdaq on its best winning streak since 2009
Wall Street ended modestly higher yesterday, with the S&P 500 and Nasdaq closing at record highs following a twelfth consecutive advance. US markets reacted positively to the announcement of a 10‑day ceasefire between Lebanon and Israel. Earnings also provided support, led by banks and semiconductor companies, while luxury remained the weak spot this week. Notably, shares of Charles S
Bullish signs of a peace deal send stocks soaring
President Trump indicated that Tehran wants to make a deal yesterday and officials from Pakistan signalled that new talks are planned. Meanwhile, it seems as if Israel and Lebanon might also be poised to have ceasefire discussions. US and Asia stock markets have reacted very positively with several indices surging to new all-time highs. Norbert Rücker, Head of Economics and Next Generatio
Stocks closing in on record highs
Investors grapple with rising stagflation fears amid slowing growth and persistent inflation, yet optimism over renewed US-Iran peace talks has fuelled a broad equity rally, pushing major markets close to record highs. Banks are reporting booming trading revenues even as they sounded a note of caution about the ripple effect of higher oil prices. Dario Messi, Head of Fixed Income Research
Markets bounce back as deal hopes resurface
After an early sell-off, equities rebounded during the trading session following President Trump’s comments that further negotiations with Iran - and a potential deal - remain within reach in the coming days. Both the Dow Jones Industrial Average and the S&P 500 moved back into positive territory for the year, while oil prices slipped below USD 100 per barrel once again. In today’s ep
From ceasefire relief to risk‑off reality
Last week’s market rally was driven by ceasefire optimism and a sharp drop in oil prices, lifting equities despite growing signs of economic strain and energy‑led inflation pressures, although US core inflation in March (excluding energy) remained contained. Over the weekend, geopolitical risks moved back to centre stage as failed US–Iran talks and an effective embargo on Iranian oil push
The View Beyond: What the fragile Middle East truce means for China
The US and Iran have agreed to a two‑week ceasefire in the Middle East conflict, but the deal continues to look fragile. Markets have reacted swiftly, with crude oil prices falling sharply while gold and equity markets rebounded. However, the Strait of Hormuz remains largely closed, keeping energy supply risks firmly in focus. In this complex backdrop, how attractive is the current market
Ceasefire hopes lift markets as eyes turn to US inflation
Equity markets are trading higher amid renewed optimism that the ceasefire will hold, reinforced by Israel’s signal that it is ready to enter direct negotiations with Lebanon. Meanwhile, oil prices continue to rebound following Wednesday’s sharp losses. Investors’ focus now turns to today’s US CPI data for March. In this episode, we are joined by Thomas Caflisch, Head of FX Sales Switzerl
Global equity rally falters after disagreements on ceasefire terms
The last 24 hours were a game of two halves for equity markets – Europe and the US rallied as they celebrated the Middle East ceasefire and crude oil ended Wednesday 16% lower. But then the cracks in the terms of the ceasefire appeared – Israel attacked Lebanon, which Iran said breached the agreement, and Iran claimed that it has the right to enrich uranium, which the US says it does not.
US and Iran agree 2-week ceasefire that will open Strait of Hormuz
Oil fell the most in nearly six years, while stocks surged after the US and Iran agreed to a two-week ceasefire just hours before a Trump-imposed deadline, giving markets a brief respite from Middle East–driven turbulence. Asian equity markets jumped, Treasuries rallied, the US dollar weakened, and precious metals advanced. Afonso Borges, Fixed Income Strategist, discusses the implication
Markets on edge as oil, inflation, and AI drive a fragile mood
Equity gains on Monday were modest and fragile. Risk appetite is fading as investors focus on President Trump’s deadline, rising oil prices, and Middle East tensions. Strong US payrolls on Friday contrast with weaker services employment and rising input costs on Monday, leaving uncertainty over whether inflation pressures will persist. Technology remains a key theme: strong AI demand supp
The View Beyond: The continued resilience of emerging market equities
Despite a significant selloff following the outbreak of conflict in the Middle East, global emerging market equities have demonstrated a surprising degree of resilience. What explains this contained drawdown, and how should investors differentiate across regions even as volatility persists?(00:00) - Introduction
(01:11) - Current resilience of emerging markets
(01:59) - Earnings revi
Tensions rise, markets shift after Trump dashes hopes of a quick resolution
In his highly anticipated address to the nation, President Trump dashed hopes of a swift resolution to the conflict with Iran, announcing that the US would ‘hit Iran very hard’ in the coming weeks. Markets reacted immediately: stocks reversed earlier gains, government bond yields rose, and oil prices and the US dollar moved sharply higher on the news. In this episode, we are joined by Car
Equity markets finish a turbulent March with a solid rebound
Global markets showed signs of recovery yesterday after a highly volatile March, with European equities stabilising and US indices staging an impressive rally. However, persistent geopolitical tensions in the Middle East continue to weigh on sentiment, fuelling higher energy prices and pushing Eurozone inflation above the ECB’s target. Asian markets opened April on a strong footing, led b
Markets torn between growth and inflation; an AI-dawn in healthcare?
Despite strong German inflation, global bond yields fell as markets shifted from inflation concerns to weakening growth signals. Soft Swiss KOF and Eurozone confidence data reinforced this move, pushing investors into bonds. Fed chair Jerome Powell said the central bank has limited influence over supply‑driven price spikes, reducing expectations of imminent US rate increases. In equities,
US-Iran war escalates further
Risk-off sentiment dominated the end of last week, with the S&P 500 posting its fifth consecutive weekly decline. Markets remained broadly cautious amid scepticism about any near-term geopolitical de-escalation after several days of headline-driven volatility. Concerns over a prolonged conflict and the risk of spillover effects on inflation and demand as a result of higher oil prices
The View Beyond: Energy markets and the economic outlook amid the ongoing war in the Middle East
As the war in the Middle East continues, energy markets are still at the centre of investors’ attention. How resilient are global oil and gas flows, and what are the possible scenarios as the situation evolves? In this episode Helen Freer is joined by Norbert Rücker, Head of Economics & Next Generation Research, to discuss the latest developments in the Middle East and their implicati
An anything-but-oil day and navigating fixed income markets
Markets saw another sharp risk‑off move yesterday as fears of escalation in the Iran war pushed investors out of everything except oil. Inflation worries strengthened after the OECD raised its US forecast, while growth concerns deepened in Europe, where data points to a weak start to 2026. Corporate news added pressure, with technology stocks hit by Meta’s legal setbacks and renewed doubt
Global rally cools, social‑media firms lose key case
Global equities rose on Wednesday as hopes of a path to peace in the Middle East and lower oil prices lifted sentiment. The MSCI World Index gained nearly 1%, its best performance since 9 February, and bond yields eased sharply. Beneath the positive market tone, economic surveys from Switzerland and Germany pointed to weakening confidence. Company news was mixed: Arm Holdings rallied on p
Stocks gain, oil falls on Trump’s 15-point plan
Markets continue to gyrate around the latest headlines on the Middle East conflict. Early weakness yesterday – driven by doubts over the status of any US–Iran negotiations – gave way to renewed optimism overnight and into Asian trading this morning, as the US outlined a 15‑point plan aimed at ending the conflict. Gold stabilised, while global PMIs added to inflation concerns and highlight
From turmoil to turnaround – markets shift on de-escalation hopes
Global equities staged a sharp rebound yesterday after reports of a potential de‑escalation in the Middle East conflict. Brent crude saw one of its biggest intraday swings on record, and short‑dated US Treasury yields dropped sharply. Asian markets also retraced some of their steep losses from the previous session. In today’s episode, we’re joined by Carsten Menke, Head of Next Generation
Central banks keeping calm and carrying on as Gulf tensions escalate
Equity markets in Asia have followed their US peers lower this morning after President’s Trump’s 48-hour ultimatum to Iran to reopen the Strait of Hormuz was issued on Saturday evening. Iran’s Revolutionary Guards have responded that the Strait will remain closed until their power plants are rebuilt. They also warned that if Washington carries out its threat to obliterate their power plan
The View Beyond: Central Banks’ response to the Energy Crisis
With geopolitical tensions in the Middle East driving a new wave of uncertainty, investors are watching central bank decisions and accompanying statements very closely. How are policymakers responding, and what does this mean for fixed income positioning?In this episode of The View Beyond, Bernadette Anderko is joined by Dario Messi, Julius Baer’s Head of Fixed Income Research, to discuss
Choppy trading persists as rate jitters and Middle East risks collide
Equity markets turned choppy heading into the weekend, while oil prices cooled as investors weighed efforts by the US and Israel to ease concerns over the Iran war. Anxieties over hawkish central bank policies and upward pressure on rates also weighed on sentiment. However, the market continues to be very sensitive to any signs of potential de-escalation. Thomas Caflisch, Head of FX Sales
Oil spike rekindles inflation fears, putting markets on edge
Equity markets are sliding and bond yields are climbing as oil and gas prices surge amid a new wave of escalation in the Middle East. At the same time, central bankers are holding their breath as inflation expectations edge higher. In today’s episode, we welcome Norbert Rücker, Head of Economics and Next Generation Research, and Carsten Menke, Head of Next Generation Research, who share t
Markets hold steady despite Middle East tensions
Global markets held up yesterday despite rising oil prices and escalating tensions in Iran, with European and US equities closing higher. Asian markets rallied strongly overnight, led by South Korea and Japan. More broadly though, investors remain cautious as sentiment cools in Europe and central banks prepare for key policy decisions. Today we’re joined by Afonso Borges, Fixed Income Res
Oil jitters, NVIDIA’s big product presentation, Trump hits pause on China trip
Markets rebounded on Monday as declining oil prices during the day briefly eased inflation concerns, supported by IEA oil supply assurances and US comments on shipping through the Strait of Hormuz. European and US equities advanced, led by artificial‑intelligence names, with Nvidia in focus after its major product event. Australia’s central bank raised rates by 25 basis points. In Asia, m
Markets attempting a positive start to the week
US markets closed lower on the day, and the week, on Friday but the S&P 500 is still only 5% off its all-time high. The US military struck Iran’s Kharg Island on Friday but as yet they have not targeted the oil infrastructure. President Trump is now calling for a coalition of countries to send ships to help escort cargo through the Strait of Hormuz, sending oil prices a little lower a
The View Beyond: The impact of the Iran war on Asia markets
As the conflict in Iran continues to drive oil prices higher and unsettle global markets, investors are assessing the implications for Asia and China. Meanwhile in Beijing, the annual Two Sessions meetings have just concluded, outlining policy priorities and economic targets for the year ahead.In this episode of Moving Markets: The View Beyond, Richard Tang, Head of Research Hong Kong at
Geopolitics‑driven volatility deepens across global markets
Global markets endured another turbulent session as escalating tensions in the Middle East, including aggressive rhetoric from both Iran and the United States, drove oil prices higher and fuelled risk aversion. European and US equities extended their declines, with energy stocks bucking the trend. Strong US macro data contrasted with the geopolitical gloom, but new US trade investigations
Oil tops USD 100, lifting yields and shaking markets
Tuesday’s rally in European stocks proved short‑lived as surging oil prices and renewed concerns over potential rate hikes unsettled investors. In contrast, US markets were more composed yesterday, with the tech‑heavy Nasdaq even managing to post a modest gain. Asian markets are trading lower today after Brent crude climbed above USD 100 a barrel amid fresh geopolitical escalations. In to
Equity markets rebound as oil tumbles
Markets reacted to volatile geopolitics as hopes of a swift resolution in the Iran crisis clashed with heightened military tensions. Strong gains in European equities and a sharp drop in oil prices highlighted a session defined by fragile optimism. With central banks watching inflation and safe havens like gold and the Swiss franc holding firm, uncertainty remains. Dario Messi, Head of Fi
Oil whiplash, Wall Street rebound, China’s export strength
Brent oil saw historic intraday swings yesterday, surging on supply fears before dropping sharply as the G7 discussed releasing reserves and the US president signalled the war could soon end. This shift helped European markets rebound from their lows and lifted US equities as safe‑haven flows unwound. Asian markets followed Wall Street higher, supported by strong corporate results and rob
Oil surges after Iran names new supreme leader
This morning, Iran named Mojtaba Khamanei, the man President Trump said would be unacceptable in the post, as its new leader. The immediate market reaction was a spike in the price of Brent crude oil to nearly USD120 per barrel, and a pronounced selloff in Asian stock markets. These moves have since reversed somewhat after the Financial Times wrote that G7 leaders will have talks with the
The View Beyond: How are financial markets reacting to the strike on Iran?
The recent US and Israel strike on Iran has introduced a new layer of uncertainty to global markets, with investors closely monitoring the implications for oil & gas, and portfolios overall. How should investors interpret these developments and position themselves amid heightened geopolitical risk?In this episode of Moving Markets: The View Beyond, Ayako Lehmann is joined by Norbert R
Oil surge pulls equities lower and dampens rate-cut expectations
Global markets saw another volatile session as escalating Middle East tensions drove oil prices sharply higher and dampened risk appetite. Equities fell across the US and Europe, and US bond yields moved higher as investors reassessed the outlook for Federal Reserve rate cuts. In tech, potential new US restrictions on AI chip exports weighed on sentiment, though software stocks bucked the
From energy tensions to market gains
US and European equities rebounded yesterday as the absence of another energy spike supported sentiment. Strong US job gains and a firm ISM services reading eased growth concerns, reduced expectations for a July rate cut, and lifted major indices, with technology leading. The US dollar held firm, investors are positioned for a weaker euro, and Swiss franc strength triggered a second round
Stock markets fall again as Iran conflict continues
US and European stock markets fell further yesterday although some relief was provided by Trump’s promise to accompany vessels through the Strait of Hormuz. Both oil and the US dollar strengthened, but gold and silver fell, and overnight Asia’s stock markets suffered a bruising session with the Kospi falling more in one day than it has since 2001. Joining the show today are our research
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