
Saxo Market Call
For the aspirational trader and financial markets professional. Coming at you two to three times a week, the Saxo Market Call is the high frequency podcast for real-time analysis of the financial markets across asset classes, from forex and rates to equities and commodities.
Latest episodes

Jun 6, 2025 • 24min
Silver rips as Musk-Trump bromance trips
Join Ole Hansen, Saxo's Head of Commodity Strategy, as he dives into the fascinating world of silver and platinum amidst shifting market dynamics. He discusses the recent spike of silver hitting new 13-year highs and how economic indicators like job reports and interest rates shape its future. Hansen also analyzes the impact of the Musk-Trump fallout on US markets, revealing its implications beyond just Tesla. Tune in for insights on how industrial and financial interests are evolving in these uncertain economic times!

7 snips
Jun 5, 2025 • 15min
Crossfire hurricane ahead of US jobs report
Weak U.S. economic indicators are shaking up the dollar and boosting treasuries, leaving markets uncertain. Germany's cautious tax reform strategy contrasts with past U.S. measures, sparking a debate on economic recovery. Meanwhile, U.S.-China trade tensions simmer as discussions on rare earth supplies unfold. Insights into job figures reveal challenges ahead, alongside turmoil within the Republican Party over contentious bills. The future of tax reforms and debt ceiling negotiations raise questions about sustainable growth and market reactions.

19 snips
Jun 2, 2025 • 14min
Trump doesn't like TACO. USD breaking down?
Delve into the fluctuations of global equities and the U.S. dollar as trade tensions escalate. Discover how Trump’s tariff strategies might link to unexpected trade dynamics. The conversation shifts to the evolution of warfare, emphasizing technology's role and its economic ramifications. Key market indicators and their impact on the dollar are examined, along with insights on the S&P 500 and significant earnings reports. The interplay between crypto markets and stocks adds another layer to the analysis, all amidst a backdrop of geopolitical shifts.

10 snips
May 30, 2025 • 12min
Yesterday gave equity bears and USD bears a hook
The podcast dives into the recent downturn in US equity markets and the faltering US dollar, signaling a potential key reversal. Attention shifts to Nvidia's mixed earnings, raising questions about its sustainability in a volatile market. The discussion highlights a possible new tax on interest payments to foreign investors, which could disrupt foreign capital flows. With looming economic indicators and concerns over a recession, listeners gain valuable insights into the shifting landscape of global markets.

18 snips
May 28, 2025 • 14min
Nvidia to determine whether US stocks can achieve new highs
Excitement is building as Nvidia's earnings call could set the stage for new highs in the US market. Meanwhile, Japan's bond market shows troubling signs, impacting global sentiment. The discussion dives into critical resistance levels for US stocks, influenced by geopolitical tensions with China and consumer confidence. The analysis of sluggish crude oil prices coincides with evolving dynamics in uranium, despite a lack of immediate growth. Overall, there's a palpable sense of anticipation impacting trader sentiment and commodity strategies.

9 snips
May 27, 2025 • 9min
Japan beating US to the punch in addressing long bond yields
Japanese Government Bond yields are taking a dive as the Ministry of Finance plans changes to issuance, leading to a yen sell-off. Meanwhile, there's rising excitement in the market with heavy retail investor participation, raising questions about sustainability. The discussion also dives into the anticipated earnings from Nvidia and the current state of the gold market, linking it to broader financial trends and investor sentiment. Overall, there's a look at economic indicators and market divergence post-2016 elections, setting the stage for future trends.

18 snips
May 26, 2025 • 14min
The TACO trade engages once again
This discussion sheds light on Trump's latest tariff delays and their impact on the market. The uranium sector sees a 15% surge thanks to new executive orders. The confrontation between the EU and China heats up, especially regarding technology and manufacturing. There's also a closer look at the foreign exchange market, highlighting the US dollar's vulnerability against major currencies. Tune in for insights on how these geopolitical shifts influence global trading strategies.

6 snips
May 23, 2025 • 14min
Is everyone (including us) too bearish on US Treasuries?
The discussion centers on whether the prevailing bearish sentiment towards US Treasuries is misguided. Experts delve into potential market squeezes ahead of a holiday weekend and their implications for the US dollar and gold. They also consider how rising Treasury yields, legislative actions, and geopolitical tensions could affect investor sentiment and market dynamics. This contrarian perspective challenges common beliefs about bond investments and explores possible future scenarios.

27 snips
May 22, 2025 • 34min
US Treasury pressure cooker heating up once again
Recent fluctuations in the U.S. Treasury market spark concerns, driven by a weak auction and rising yields. The spotlight also shines on platinum, making a notable move in the commodities sector. Weather-related risks pose challenges for grain prices, particularly wheat, with droughts impacting supply chains. Technological advancements shape market trends, alongside evolving cryptocurrency regulations. Economic complexities abound, as key indicators like jobless claims and CPI provide insight into market sentiment amidst unprecedented dynamics.

May 21, 2025 • 10min
USD breaking down as we are all waiting for Trump's "big beautiful bill".
The breakdown of the USD creates a buzz as Bitcoin strives for new heights. The US Treasury market simmers with anticipation over a significant tax and spending bill. A crisis of confidence lurks, potentially influencing yields and Fed actions. Observations sweep across key asset movements, not just in the US, but globally. Political shifts in Australia and indicators in the S&P and NASDAQ add layers to the market’s complexities.