Moving Markets

A down day for US equities yesterday may not be so telling ahead of today’s all-important US inflation data release. The Italian government qualified the extent of its windfall tax on excess profits of banks; a US 10-year Treasury auction was well received; the US announces new restrictions on investments in key sectors in China; China is allowing group travel to key countries again; and oil, natural gas, and rice prices are all on the rise – so plenty to talk about on a peak summer day. Ronny Kaufmann, CIO Strategy & Investment Analysis, talks about China being in a balance sheet recession, the benign US economic picture, and that a consolidation in the US equity advance may not be such a bad thing.

00:14 Introduction by Helen Freer (Investment Writing)
00:39 Markets wrap-up by Mike Rauber (Investment Writing)
06:39 Update from the CIO Office by Ronny Kaufmann (CIO Strategy & Investment Analysis)
11:59 Closing remarks by Helen Freer (Investment Writing)

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What is 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 important legal information prior to listening to this podcast.