Moving Markets

Hosted by Julius Baer

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1140

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Nov 2026

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About the show

Moving Markets is the home of podcasts at Julius Baer. Here, our expert teams share concise daily market updates in ‘Moving Markets Daily’ which is complemented by ‘Moving Markets: The View Beyond’, a weekly show dedicated to discussing the context, thematic angles, and investment implications behind key topics shaping the news cycle and conversations among our relationship managers and clients. The information contained in this podcast is marketing material. Opinions expressed do not constitute independent financial/investment research, investment advice, or an offer to buy or sell securities by Julius Baer. Please refer to www.juliusbaer.com/legal/podcasts for important legal information prior to listening to this podcast.

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60 recent

November 13, 202613 min

Nvidia resignation rocks tech world as oil and yields surge

US technology stocks were in the spotlight yesterday following the sudden resignation of Nvidia CEO Jensen Huang, which prompted a broader sell-off in AI-linked shares even as competitors and hyperscalers attracted dip-buyers. Escalating tensions in the Middle East pushed oil prices sharply higher, while hawkish Federal Reserve commentary and surging inflation expectations drove Treasury yields back above 5% and lifted the dollar to its highest level since April 2025. European equities outperformed, touching record highs before closing slightly lower. In today's show, Tim Gagie, Head of FX Advisory in Geneva, shares his insights on gold, the US dollar, and the Brazilian real. (00:00) - Introduction: Jan Bopp, Product & Investment Content (00:45) - Markets wrap-up: Lucija Caculovic, Product & Investment Content (07:00) - FX & metals update: Tim Gagie, Head of FX & Precious Metals Sales Geneva (12:47) - Closing remarks: Jan Bopp, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

November 12, 202610 min

Will he stay or will he go?

Markets are firmly focused on one firm and one leader this morning as Nvidia’s board meets to decide the fate of Jensen Huang. After US markets ended higher yesterday and Europe’s Stoxx 600 notched its highest ever close, reports that Nvidia’s board might move to change their leader sent the company’s shares down 10% and futures markets tumbled too. Most of Asia traded lower today although Japan’s Topix provided a small green window. After bouncing back last week, precious metals have come under pressure again. Carsten Menke, Head of Next Generation Research, joins the podcast to explain what’s behind the latest moves, and what he expects in both the short and longer-term now. (00:00) - Introduction: Helen Freer, Product & Investment Content (00:28) - Markets wrap-up: Bernadette Anderko, Product & Investment Content (05:16) - Precious metals: Carsten Menke, Head of Next Generation Research (09:23) - Closing remarks: Helen Freer, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

November 11, 202611 min

Anthropic's trillion-dollar ambition meets hot inflation & jumbo-hike fears

Stubborn US inflation has revived talk of a jumbo Fed rate hike, unsettling bonds and weighing on equities. Yet sentiment has rebounded, led by strong results from neocloud and semiconductor names, while Anthropic's potential USD 1.5 trillion debut underscores both the promise and the capital intensity of the artificial intelligence boom. Dario Messi, Head of Fixed Income Research, discusses whether a December jumbo hike is realistic and what higher-than-expected US inflation means for bond markets. (00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:34) - Markets wrap-up: Jan Bopp, Product & Investment Content (06:26) - Bond Markets this week: Dario Messi, Head of Fixed Income (10:48) - Closing remarks: Bernadette Anderko, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

November 10, 202613 min

(Almost) all of the headlines point to tech

Global equities staged a powerful comeback led by technology and semiconductors, even as an FBI investigation into Nvidia's CEO unfolded with all the intrigue of a James Bond plot. Broader market resilience, Anthropic's bold IPO plans, sliding oil prices on easing geopolitical tensions, and today's crucial US inflation data round out a packed agenda for investors navigating elevated volatility. Enrico Chinello from our Next Generation Research team dives deeper into what has changed for the AI-buildout after the fallout from last week’s US midterm elections and what it means for investors going forward. (00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:34) - Markets wrap-up: Jan Bopp, Product & Investment Content (07:05) - Making sense of the AI selloff: Enrico Chinello, Next Generation Research (12:25) - Closing remarks: Bernadette Anderko, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

November 9, 20269 min

Markets digesting a momentous week

The Democrats' sweeping election victory sparked sharp market volatility last week, with an initial rally quickly giving way to a technology-led sell-off as investors reassessed the outlook for AI investment and data centre expansion. Capital rotated into less AI-exposed markets, supporting Chinese and Indian equities while Europe held up relatively well. Beyond equities, oil prices recorded one of their steepest declines since 2020, while gold and the USD advanced. Asian markets are attempting a fragile rebound at the start of the week. Mensur Pocinci, Head of Technical Analysis, views last week's moves as a liquidation event: these have historically been followed by stronger market performance over the medium term. (00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:51) - Markets wrap-up: Mike Rauber, Product & Investment Content (07:26) - Technical Analysis update: Mensur Pocinci, Head of Technical Analysis (09:06) - Closing remarks: Bernadette Anderko, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

November 7, 202615 min

The View Beyond: US midterms impact on Asian markets

The Democrats recorded a full sweep at the US midterms 2026. What does this mean for Asian markets, what can investors expect from the Federal Reserve going forward and will this also impact the oil price and therefore the inflation picture? In this episode, Mark Matthews, Head of Research Asia at Julius Baer, discusses with Ayako Lehmann, Head of Webcasts & Video, why the outlook is rather optimistic for Asian markets, why both the US Dollar and oil price could potentially weaken going forward and to what extent the AI investment cycle remains important, but should be balanced out with defensive equity positions. (00:00) - Introduction (01:01) - Democrats' historic midterm sweep (02:20) - Could a Democratic victory be good news for Asian markets? (04:16) - Impact on trade policies and tariffs (06:22) - Could markets be heading for a year-end rally? (07:23) - Is a weaker US dollar on the horizon? (08:33) - Is the AI spending race finally slowing down? (10:44) - Positioning Asian equity portfolios for growth (12:28) - Key risks investors should watch (14:05) - Key takeaways

November 6, 202613 min

Nasdaq correction creates panic selling

All three of the main US indices closed lower yesterday but it was AI-connected stocks that suffered the most and which sent the Nasdaq Composite 5.5% lower on the day. Following the Democratic sweep at the midterms, investors are nervous about the possible impact on data centre development. The nerves were felt around the globe, with many European indices and nearly all of Asia’s closing lower yesterday and this morning. There were, however, a few exceptions. Norbert Rücker, Head of Economics & Next Generation Research, provides a timely and insightful update on what is happening in both oil and natural gas markets on today’s podcast – tune in to find out why he believes that prices will trend lower in 2027. (00:00) - Introduction: Mike Rauber, Product & Investment Content (00:48) - Markets wrap-up: Bernadette Anderko, Product & Investment Content (07:09) - Energy market update: Norbert Rücker, Head of Economics and Next Generation Research (12:20) - Closing remarks: Mike Rauber, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

November 5, 202612 min

Oil slides and equities rally on the blue wave

Global markets rallied after the Democrats secured control of both chambers of Congress in the US midterm elections, fuelling hopes of reduced policy uncertainty and easing geopolitical tensions. Oil prices plunged nearly 9% as investors bet on a faster resolution to the US-Iran conflict, while bond yields fell and equities surged on both sides of the Atlantic. However, technology stocks were mixed, with AI platform giants advancing, while semiconductor and data centre shares came under pressure. Tim Gagie, Head of FX & Precious Metals Advisory in Geneva, joins today’s show to talk about the impact of the Democratic sweep on currencies and metals. (00:00) - Introduction: Mike Rauber, Product & Investment Content (00:41) - Markets wrap-up: Helen Freer, Product & Investment Content (06:36) - FX & metals update: Tim Gagie, Head of FX & Precious Metals Sales Geneva (11:44) - Closing remarks: Mike Rauber, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

November 4, 202613 min

What now for equities and bonds after the blue wave?

Markets initially sold off after the Democratic blue wave in the US midterms, but much of the decline in equities, bond yields and the dollar quickly reversed. AI sentiment remained resilient, with AMD raising guidance and Meta attracting strong demand for its USD 15 billion bond issue. Gold climbed above USD 4,000 per ounce while Asian markets rebounded despite softer Chinese services data. Dario Messi, Head of Fixed Income Research, sees political gridlock as supportive for US Treasuries and highlights attractive value in high-quality intermediate-duration bonds. Mathieu Racheter, Head of Equity Strategy, believes policy uncertainty around regulation, taxation and AI spending could weigh on US stocks, supporting the case for international diversification. (00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:34) - Markets wrap-up: Mike Rauber, Product & Investment Content (05:27) - Bond Market reaction to US midterm elections: Dario Messi, Head of Fixed Income (09:43) - Equities in the wake of midterms: Mathieu Racheter, Head of Equity Strategy Research (13:09) - Closing remarks: Bernadette Anderko, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

November 3, 202612 min

Oil plunges, tech under pressure

A dramatic drop in oil prices set the tone for global markets yesterday, as investors reacted to signs of progress in US-Iran negotiations. Lower energy prices boosted European equities and particularly travel and leisure stocks, but concerns surrounding the AI trade continued to drag on US technology names. China's yuan is set for its biggest one-day drop against the dollar for six months today, after the central bank said it would raise the amount of foreign currency that financial institutions have to set aside as reserves. The US midterm elections dominate the political agenda today, with polls suggesting that the Democrats are favoured to win the House, but the Senate will be a close call. Carsten Menke, Head of Next Generation Research, joins the show to talk about cybersecurity after the world's largest crypto exchange, Binance, was hacked last week. (00:00) - Introduction: Bernadette Anderko, Product & Investment Content (00:28) - Markets wrap-up: Helen Freer, Product & Investment Content (07:04) - Cybersecurity in focus: Carsten Menke, Head of Next Generation Research (11:45) - Closing remarks: Bernadette Anderko, Product & Investment Content Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.