New cracks in China’s real estate market continue to weigh on markets

Link to slide deck: https://shorturl.at/dqNTY   - Equity markets ended last week on a weak footing which has continued this Monday as Country Garden, China's largest real estate developer, missed coupons on some of its high-yielding investment products setting off fresh nervousness among investors. Speculators have cut positions in USD but increased their short positions on bonds highlighting that investors are betting on higher interest rates across the entire curve. In commodities traders are shredding exposure in metals and agriculture while holding on to their long positions in energy on the recent move higher. On equities, we cover Exor's new 15% stake in Philips, Nvidia's weakness on Friday, and the new bid for a takeover of US Steel. On today's podcast are 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. Click here to open an account with Saxo   - Intro and outro music by AShamaluevMusic