Article / 04 July 2016 at 5:40 GMT

Macro Monday Call: Both risk-on and risk-off assets outperform

Global Macro Strategist [Asia based] / Saxo Bank
By Kay Van-Petersen

Welcome to Macro Monday, Your Cross Asset Weekly Call on Global Markets

This is a summary of Macro Monday, Saxo Singapore's cross-asset weekly call on global markets.

Here is this morning's recording of this week's Macro Monday Call.

What to watch for in week 27

For week 27 we take a look at:
  • The week after Brexit and the lack of divergence, as both traditional risk-on and risk-off assets outperformed with equities higher, bond prices higher and commodities higher
  • COT report: As hedge funds exit the USD longs post Brexit and commodities attract big positions
  • Thoughts on tactical positioning: For longs potentially look at WTI, CDA, Nifty. For shorts potentially look at S&Ps, the Dow
  • Several charts including: Gold-silver ratio, yen, DXY, WTI, copper, ASX, S&P
  • Upside risk for Federal Reserve hawkishness to return, US data improving and markets rallying
  • Week ahead, what to watch out for, with RBA, Riksbank, US nonfarm payrolls and Fed minutes


– Edited by Robert Ryan

Kay Van Petersen's the Macro Take has now been folded into the Macro Monday Call. Here is this morning’s recording of this Week’s Macro Monday Call. Please join us here each Monday when we go live at 0000 GMT - 0830 (Singapore/Hong Kong time), 0930 (Tokyo), 1030 (Sydney).


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