Saxo Market Call Yep: NOK, Wheat and Tesla in the same podcast.
10 snips
Jun 20, 2025 The discussion kicks off with the geopolitical tensions between Iran and Israel and their effects on global energy markets. Insights into crude oil pricing and the risk premium are highlighted. The podcast then dives into the wheat market, addressing challenges faced during U.S. crop harvesting. There's a thoughtful analysis of gold's enduring value amid fluctuations and how upcoming economic indicators could affect market perception. Finally, listeners learn about Tesla's upcoming robo-taxi service and its potential impact on stock performance.
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Oil Market's Built-in Risk Premium
- The oil market carries a minimum $10 risk premium due to geopolitical tensions in the Middle East.
- Daily oil prices tend to drift lower without consistent negative news to sustain this premium.
Japan's Inflation-Interest Rate Paradox
- Japan faces an unusual case of high inflation paired with lowest interest rates.
- This combination weakens the yen, especially with an upcoming election promising handouts.
Wheat Rally Driven by Short Covering
- Wheat prices have rebounded mainly due to short covering, despite stable fundamentals.
- Hedge funds have been net short wheat for a record three years, limiting rally sustainability.
