Saxo Market Call Yen gets binned as gold hits 4k and dispersion trade catches our eye.
8 snips
Oct 8, 2025 The podcast takes a deep dive into the turmoil of the US equity markets, triggered by troubling AI news and disappointing Tesla updates. The Japanese yen faces a severe decline as gold prices soar above $4,000 for the first time. Listen in as they discuss the widening dispersion trade and the speculative frenzy in single stocks. Plus, get insights into France's political rollercoaster and the implications of rising Chinese investment in Brazil amidst geopolitical tensions.
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AI Story Sparks Market Wobble
- U.S. equities saw a meaningful down session after an extended run higher, reflecting a normal back-and-fill move.
- Oracle's margin weakness and AI-related doubts contributed to broader nervousness in tech names.
Yen Collapse Risks Global Liquidity Shock
- The yen plunged through 150 and hit 152, driven by a move seemingly independent of U.S. yields and broader FX moves.
- A sustained rapid move risks major Japanese intervention that would be globally liquidity negative.
France Seeks A Short-Term Political Fix
- France may avoid near-term political upheaval if a new government suspends pension reform to stabilize until 2027.
- That political fix would support French debt and contribute to modest euro strength today.
