Could weather be the next major trigger?
Today's slide deck: https://bit.ly/3URcx9q - Click here to open an account with Saxo - Today we look at risk sentiment taking a breather after a particularly strong US October US Retail Sales report, although long US treasury yields fell on the day and took the yield curve inversion to its most negative in over forty years as markets continue to price a recession ahead. The key incoming data doesn't start rolling in for another couple of weeks, so we wonder if a possible shift in weather into proper winter mode could change the complacent stance in energy markets. Elsewhere, we wonder if the Budget Statement from UK Chancellor Hunt can continue to support sterling, look at the plunge in coffee prices, Nvidia and Siemens earnings, and more. Today's podfeatures Peter Garnry on equities and John J. Hardy hosting an on FX. Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here. Intro and outro music by AShamaluevMusic