Download - Bad news is good news, or so the market thinks

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Saxo Market Call

Business:Investing

Bad news is good news, or so the market thinks

2023-08-30

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Link to slide deck: https://bit.ly/3L3UV7k -

Bad news was good news yesterday as significantly weaker than estimated US August consumer confidence and July JOLTS jobs opening pushed the US 10-year yield lower lifting equities, and especially the cyclical sectors such as semiconductors and carmakers. In currencies, the AUD is seeing the strongest bid and in commodity markets crude oil is still supported by tight markets. Peter Garnry on equities and Ole S. Hansen on commodities.

Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here.

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Intro and outro music by AShamaluevMusic