Your are just one click away from trading with Saxo.
Find quick answers to the most commonly asked questions.
A rewarding referral for you
As a Saxo client you can earn rewards for every new client you refer to us. To find out more about the Saxo referral program in your country, click here.
Latest news from #SaxoStrats
Fixed income market: the week ahead
Prepare for another intense week ahead. European sovereigns are selling off as the market digest news that the Hungarian central Banks may hike the benchmark rate next month. Italian BTPS lead losses as the market fears that the ECB will taper PEPP purchases in June. Under the PEPP Program, Italian sovereigns have been the biggest beneficiaries. We continue to like Italian BTPS as the higher their yields go, the better return they provide compared to peers. BTPS can serve as an efficient tool to park cash as banks begin to charge negative interest rates on deposits. If the selloff continues, we expect the ECB to increase purchases under the PEPP program to avoid a tightening of financial conditions in the euro area while the recovery is yet not set to motion. In the United States, US Treasuries remain volatile to the FOMC minutes and CPI numbers coming out of Europe on Wednesday. Our biggest concern is that we may be facing a period of stagflation.
COT: Speculators sell into overheated commodity market
Futures positions and changes made by hedge funds across commodities, forex, bonds and stock indices up until last Tuesday, May 11. A week where renewed inflation fears ahead of U.S. CPI pushed the S&P 500 to a one-month low, the dollar lower and US 10-year breakeven yields to a fresh multi year high. The commodity sector which reached a ten-year high saw emerging buying fatigue as money managers sold into the rally, especially in some of 'hot' commodities such as corn and copper.
Podcast: Uncomfortable correlations
Today we look at the high degree of correlation between US equities and US treasuries and why this is cause for discomfort, note recent surges in inflation readings and inflation expectations as a sign of an inflationary cycle igniting. We also discuss weakness, however, in major commodities since mid-last week, save for gold, where the market is attempting a breakout today. Elsewhere, we look at key earnings and macro numbers for the week ahead. On today's pod are Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Have a question about our products, platforms or services? Visit the Support Centre to find answers for our most frequently asked questions. If you are still unable to locate an answer to your question, you will also find contact details for your local Saxo office to speak with a representative.