Podcast
Moving Markets
Hosted by Julius Baer · EN
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 important legal information prior to listening to this podcast.
122episodes
Episodes
Newest firstAll episodes
The View Beyond: What does the political reset in the UK mean for sterling and UK bonds?
2d ago00:23:46Summary readyWith the UK preparing for a new phase of political leadership under the Labour Party's Andy Burnham, investors are watching closely for signals that could impact sterling and UK bonds. Despite headline changes at the top, market volatility has remained subdued. What’s behind the calm, and what should investors expect next?In this episode of Julius Baer’s Moving Markets: The View Beyond, Ayako Lehmann is joined by David Meier, Chief Currency Strategist, and Afonso Borges, Fixed Income Research Analyst, to examine the implications of the UK’s political reset for currency and fixed income markets. The discussion covers why sterling has remained resilient despite leadership changes, the lessons learned from past fiscal policy missteps, and the structural factors shaping the UK’s economic outlook. The conversation also explores the drivers of UK gilt yields, the impact of oil prices and inflation expectations, and the outlook for Bank of England policy. Finally, the team discusses positioning in UK bonds, the relative appeal of UK assets, and the case for hedging FX risk.(00:00) - Introduction (01:17) - Why has sterling remained calm amid political change? (03:19) - Lessons from past fiscal episodes and the risk of a repeat (04:20) - The new prime minister’s room for manoeuvre (06:19) - Structural constraints and economic outlook for the UK (07:25) - Oil prices, inflation pass-through, and UK gilt yields (10:14) - Positioning on the UK yield curve (10:56) - Bank of England policy outlook (13:22) - Implications for sterling versus major currencies (16:35) - Key factors for UK bond investors (20:30) - FX hedging and international investor considerations (21:32) - UK equities in the current environment (23:01) - Closing remarks and legal information Would 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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Peace talk hopes boost global stocks
3d ago00:10:36Summary readyAs peace talks could be back on the table in the Middle East, global equity markets breathed a sigh of relief and investors snapped up tech stocks around the world. The Kospi retreated from bear market territory rallying more than 5%. And Japanese bonds, equities and the currency were boosted by comments from the country’s finance minister that the government wants to encourage its pension funds to invest more in domestic assets. Despite geopolitical risks having returned as a key driver of bond-market performance, Dario Messi, Head of Fixed Income Research, explains why investors should avoid this temporary market noise, and if necessary, take advantage of higher yield levels – especially in Europe – to ensure appropriate duration exposure within their portfolios.(00:00) - Introduction: Helen Freer, Product & Investment Content (00:25) - Markets wrap-up: Bernadette Anderko, Product & Investment Content (05:18) - Bond market update: Dario Messi, Head of Fixed Income Research (09:40) - Closing remarks: Helen Freer, Product & Investment Content Would 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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Oil shock or short detour? Markets react to Middle East tensions
4d ago00:11:30Summary readyMarket sentiment has weakened as renewed tensions in the Middle East have pushed oil prices and government bond yields higher. Spain’s benchmark equity index has come under additional pressure following President Trump’s threat to impose trade restrictions on the country. In this episode, Norbert Rücker, Head of Macro and Next Generation Research, joins us to discuss the latest surge in oil prices, the broader implications for inflation and whether the move reflects a lasting shift in the outlook or merely a temporary disruption.(00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:25) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content (05:43) - Oil rallies on Trump declaration: Norbert Rücker, Head of Macro & Next Generation Research (10:44) - Closing remarks: Bernadette Anderko, Product & Investment Content Would 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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Semi sell-off and US-Iran escalation test market resilience
5d ago00:15:36Summary readySharp semiconductor losses amid AI chip rivalry fears contrast with resilient broader markets, while escalating US-Iran tensions send oil surging 5%, highlighting growing jitters over geopolitics and inflation just as central banks signal rates may stay higher for longer. Investors will now focus on the upcoming earnings season for more guidance. Matthieu Racheter, Head of Equity Strategy, shares his insights on what to expect. And Tim Gagie, Head of PB Sales (Geneva) FX & PM, talks about the British pound amid the political uncertainty in Britain and key levels to watch for gold.(00:00) - Introduction: Roman Canziani, Head of Product & Investment Content (00:41) - Markets wrap-up: Jan Bopp, Product & Investment Content (06:36) - Earnings preview: Mathieu Racheter, Head of Equity Strategy Research (10:25) - FX update: Tim Gagie, Head PB Sales (Geneva) – FX and PM (14:37) - Closing remarks: Roman Canziani, Head of Product & Investment Content Would 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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AI stocks lift Wall Street
6d ago00:10:44Summary readyUS equities started the week strongly as AI-related stocks rebounded yesterday and the Dow Jones closed above 53,000 for the first time. Broadcom gained after extending its partnership with Apple, while Microsoft slipped following plans to cut jobs as it reallocates resources towards AI infrastructure. In Europe, most indices were down, although Germany’s DAX bucked the trend and reached a new record high, and EasyJet surged on takeover news. Asian markets today came under pressure, led by South Korea’s Kospi, where a trading halt was triggered when the index fell more than 8%. Carsten Menke, Head of Next Generation Research, joins the show to talk about El Niño and its potential economic consequences.(00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:28) - Markets wrap-up: Helen Freer, Product & Investment Content (06:11) - The El Niño effects heading our way: Carsten Menke, Head of Next Generation Research (09:56) - Closing remarks: Bernadette Anderko, Product & Investment Content Would 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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It looks like 1998, rather than 2000
1w ago00:10:56Summary readySofter inflation data supported sentiment in the eurozone, while in the US, comments by Fed chair Kevin Warsh on inflation and a weaker-than-expected labour market report lifted equities last week. Gold rose and the USD weakened. Brent crude is holding near USD 72 despite OPEC+ announcing an output increase over the weekend. In Asia, attention is on SK Hynix ahead of its USD 29 billion US listing, which could become the largest-ever foreign IPO. SpaceX is also in focus as the expiry of the analyst quiet period is expected to trigger a wave of research reports and price targets. Mensur Pocinci, Head of Technical Analysis, discusses, among other topics, why US equity market behaviour may be more reminiscent of 1998 than 2000.(00:00) - Introduction: Helen Freer, Product & Investment Content (00:51) - Markets wrap-up: Mike Rauber, Product & Investment Content (06:37) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis Research (10:09) - Closing remarks: Helen Freer, Product & Investment Content Would 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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The View Beyond: Will the 4th of July party continue for US markets?
1w ago00:18:01Summary readyAs the United States marks 250 years of independence, investors are asking whether its markets can continue to deliver long-term outperformance in the face of elevated valuations and global competition. What are America’s enduring structural advantages, and could we be entering a new investment era?In this episode of The View Beyond, Bernadette Anderko is joined by Mark Matthews, Head of Research Asia at Julius Baer, to discuss the investability of the US market as it celebrates a major milestone. Together, they examine the historical drivers of US market leadership, from industrialisation to the current wave of artificial intelligence, and consider whether the region’s capitalist foundations and deep capital markets remain intact. The conversation covers the implications of high valuation multiples, the role of innovation cycles, the impact of market concentration, and the risks posed by political and economic shifts. Mark also shares his perspective on what could signal a regime change, and how investors should think about their US exposure in the context of global opportunities.(00:00) - Introduction (02:01) - US structural advantages: Resources, population, and capitalism (05:17) - Historical cycles: How US leadership translated into market outperformance (06:30) - Innovation today: Artificial intelligence and the speed of change (07:23) - Valuations and earnings: Are US equities too expensive? (08:22) - Market concentration: The Magnificent Seven and broader performance (09:15) - Could US market leadership be ending? Comparing global markets (11:23) - Key risks: Economic inequality and political shifts (13:11) - Are we in a new investment era? Technology, IPOs, and market sentiment (14:01) - What would signal a regime shift? The role of the dollar and interest rates (14:45) - Investment approach: Staying invested for the long term (15:10) - Can US structural advantages support continued outperformance? (17:03) - Closing remarks and legal reminder Would 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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Weak US jobs data and AI chip news shakes tech
1w ago00:11:46Summary readyUS job growth slowed significantly in June, giving support to our economists’ view that the US Federal Reserve will not raise interest rates again this year. This pushed Treasury yields and the USD lower, while supporting gold and most equities. US technology and semiconductor stocks fell sharply after reports that Anthropic is looking into developing its own AI chip together with Samsung Electronics. European marketsrose on Brent oil moving towards USD 70 per barrel, reduced rate-hike expectations by the Fed and new German growth measures. Asian equities outperformed, driven by gains in semiconductor stocks and encouraging economic data from China and Japan. Tim Gagie, Head of FX Advisory in Geneva, talks about the USD, gold and his favourite commodity currencies, the AUD and CAD.(00:00) - Introduction: Helen Freer, Product & Investment Content (00:25) - Markets wrap-up: Mike Rauber, Product & Investment Content (06:09) - FX & metals update: Tim Gagie, Head of FX/PM PB Geneva (10:52) - Closing remarks: Helen Freer, Product & Investment Content Would 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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Copper, chips and jobs: markets kick off the third quarter
2w ago00:11:52Summary readyEquity markets began the third quarter on a slightly subdued note, with semiconductor stocks coming under particular pressure. In contrast, Meta emerged as one of the standout performers yesterday, with its shares rallying on reports that the company is actively developing a cloud business aimed at selling AI computing power. Fixed income markets remained relatively calm as investors awaited one of the week’s key economic releases: the June US jobs report, due later today. In today’s episode, Carsten Menke, Head of Next Generation Research, joins us to discuss the potential implications of President Trump’s decision on copper duties and what it could mean for copper prices.(00:00) - Introduction: Helen Freer, Product & Investment Content (00:28) - Markets wrap-up: Roman Canziani, Head of Product & Investment Content (06:18) - Copper: Carsten Menke, Head of Next Generation Research (11:03) - Closing remarks: Helen Freer, Product & Investment Content Would 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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Winners and losers of Q2 2026
2w ago00:11:17Summary readyMarkets closed a volatile quarter with sharply lower oil and gold prices, while AI optimism continued to support equities on both sides of the Atlantic. European stocks posted their strongest quarter in over five years, and US markets remained resilient despite weakness in the ‘Magnificent Seven’. In today’s show, we also discuss easing eurozone inflation, strong US labour market data and key developments across Asia. In addition, our fixed income research analyst Eirini Tsekeridou joins us to explain why bond yields have remained elevated despite falling oil prices, and to discuss the impact of AI on fixed income markets.(00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:28) - Markets wrap-up: Lucija Caculovic, Product & Investment Content (07:27) - What’s driving bond yields now? Eirini Tsekeridou, Fixed Income Research (10:34) - Closing remarks: Bernadette Anderko, Product & Investment Content Would 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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