Today we discuss a sense of unease that the market remains as complacent as it does given the magnitude of the disruption of oil and gas supplies through the Hormuz Strait. We also discuss Adobe's huge stumble despite strong earnings, FX and gold and much more. Today's pod is hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Links:

Anas Alhajji discussing important current state of affairs with the war and oil/gas supply situation.

A discussion group on the "US Dollar Endgame" with Michael Every, Brent Johnson, Izabella Kaminska and others.

About twice per week, you will also find links discussed on the podcast and a chart-of-the-day over at the John J. Hardy substack.

Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here.

Please reach out to us at marketcall@saxobank.com for feedback and questions.

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Intro music by AShamaluevMusic

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Stunning market complacency as oil still not flowing through Hormuz