Geopolitical risks crowd out all other considerations for now

Link to slide deck:  https://bit.ly/3Ensvlf   -

Today we look at the solid bounce in risk sentiment on Friday ahead of a three-day weekend in the US (where markets are closed for Presidents Day today) as US treasury yields rolled over and took the USD lower as well, a bearish reversal for the greenback just as it was trying to break free to the upside. In commodities, we focus on copper and crude and the lack of follow-through in the China re-opening narrative. In FX, we touch on the USD reversal, the JPY this week and NZD and SEK. In stocks to watch, a discussion of Deere and its strong results on Friday as well as the busy week ahead in earnings reports, where a wide variety of companies are reporting. But drowning out everything is the risk of an escalation in the US-China confrontation after the US warned China in stark language against providing lethal aid to Russia. This after VP Harris charged Russia with crimes against humanity in its assault on Ukraine. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.

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Intro and outro music by AShamaluevMusic