Saxo Market Call Risk off has gone global, even as US treasuries and FX press snooze
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Nov 18, 2025 The market's recent risk-off sentiment has led to global equity declines, notably influenced by Bitcoin's sharp fall. Despite these shifts, bond markets, except in Japan, remain surprisingly calm. Liquidity issues and private credit stresses are also emerging concerns, especially surrounding firms like Blue Owl. Upcoming earnings, particularly Nvidia's, could further sway market sentiment. Meanwhile, tensions grow around Japan's fiscal policies and geopolitical dynamics, raising the stakes for investors.
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Global Risk-Off Rebounds
- Global risk-off has resurfaced with equities weakness led by tech and Bitcoin's plunge.
- This break below key supports creates downside risk into lower S&P and NASDAQ levels.
Liquidity Strain And Private Credit Risk
- Poor liquidity and private-credit stress are amplifying market moves right now.
- Private equity strains, like Blue Owl blocking redemptions, raise contagion risks in credit markets.
Use Nvidia Earnings As A Risk Check
- Watch NVIDIA's earnings after the close as a key market-stabilizer or catalyst.
- Use that print to reassess positioning since firm guidance may not calm a fragile market.