Saxo Market Call Markets finally dip as shutdown risk looms. Lithium on the brain...
33 snips
Sep 24, 2025 The U.S. equity market finally dipped as concerns about a government shutdown rise. The Trump administration's hardening stance on Russia and its potential partial ownership of a lithium company sparked a 75% stock surge. Meanwhile, Germany's disappointing economic data pressures the eurozone. Discussions include NVIDIA's risky investment in OpenAI and shifts in Bitcoin and Tether funding. A trader inspired by Nassim Taleb’s principles shares his disaster-hedging strategy. Lastly, the podcast delves into the changing landscape of national capitalism and resource strategies.
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Markets Due For A Correction
- US equities finally had a meaningful down day after an extended overbought run and internals showed weakness.
- John Hardy sees higher short-term downside risk and potential for a larger correction if selling intensifies.
Shutdown Brinkmanship Raises Risk
- Government shutdown brinkmanship around the September 30 deadline is increasing market risk through potential furloughs and economic disruption.
- Hardy says even if resolved eventually, the process can still inflict real economic damage while it lasts.
AI Hype May Be Reflexive
- NVIDIA's OpenAI-related $100bn headline triggered an overbought AI rally that looks reflexive and possibly unsustainable.
- Hardy warns vendor-financing to startups can book revenues now but turn into debt later, creating downside risk.
