How quickly will EVs destroy crude oil demand?

Link to slide deck: https://bit.ly/3DhGzMp   - Today we wrap global market developments as the US headed home early yesterday for today's market and national July 4 holiday. We also discuss the remarkable adoption curve of EV's in light of this week's impressive delivery figures from Tesla and others, especially the under-appreciated scale of two- and three-wheel vehicle production, and whether crude oil demand destruction will accelerate more steeply than currently anticipated. In fixed income, the focus remains on the remarkable inversions of global yield curves, with EU- and UK swap spreads indicating more pressure on rates to rise further than in the US. This and more in today's pod, which features Peter Garnry on equities, Althea Spinozzi on fixed income and John J. Hardy hosting and on FX. Read daily in-depth market updates from the Saxo Market Call and SaxoStrats Market Strategy Team here. Click here to open an account with Saxo   - Intro and outro music by AShamaluevMusic