Saxo Market Call The waiting is the hardest part
9 snips
Oct 16, 2025 The podcast dives into the complexities of U.S.-China trade relations, particularly the significance of a potential Xi-Trump summit. Gold and silver prices are surging, raising questions about their sustainability. Discussion also includes the impact of rare earth tariff threats and the possibility of a G7 coordinated response. Insights on mixed performances in AI stocks highlight the tech sector's volatility. Additionally, there’s a look at political shifts in Europe and Australia's unexpected unemployment rise.
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Choppy Equities, Stabilizing Credit
- Equity markets are choppy with weak breadth despite local highs and fading rallies.
- High-yield spreads fell sharply, signaling some stabilization in risk sentiment.
One-Way Metals Rally Feels Risky
- Gold and silver are surging with one-sided price action that feels risky to John Hardy.
- He questions the risk-reward if two-way trading doesn't return soon in precious metals.
Rare Earths Tensions Could Escalate
- US political rhetoric threatens 100% tariffs on China's rare earth exports, creating uncertainty.
- Markets seem optimistic about a truce but the stakes are very high if escalation occurs.
