Beyond Markets

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts The S&P fell 2% last week, but it is still 1.5% higher following the Donald Trump’s victory at the 2024 US presidential election. Serious change looks set to be coming under a second Trump administration. The new administration will implement a libertarian vision, which includes economic freedom, and thus a push for freer markets, and a leaner and more efficient government promised by the new “Department of Government Efficiency” limits the risk of unproductive allocation of capital. On inflation and interest rates, the October consumer and producer price inflation numbers both came out hotter than expected. The most recent initial jobless claims reading was also at the lowest since May. Such developments call into question the narrative that interest rates are going to continue declining at the faster pace expected a few months ago. This episode is presented by Mark Matthews, Head of Research Asia at Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts The past week has been marked by three major global events: the US presidential election, Federal Reserve meeting and the National People’s Congress Standing Committee meeting in China. In this episode, Richard Tang, China Strategist and Head of Research Hong Kong at Julius Baer, breaks down each of these developments and the impact on the global economy and investments.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts US stocks surged after Donald Trump’s 2024 presidential election victory — but what does this mean for the future of the markets?In this episode, Christian Gattiker, Head of Research and William Fong, Co-Head, Alternatives & Strategic Solutions Asia at Julius Baer, explore their outlook on equities, bonds, and other key asset classes, examining where opportunities and risks may lie ahead.(00:00) - Intro (00:48) - A strong mandate for Trump (01:52) - US equities surge post-results (02:49) - Does the equity bull market have legs? (03:39) - Antitrust on Big Tech - What now? (04:49) - Strong outlook for equities (06:40) - Sharp moves in Treasury yields (09:04) - Will the Fed continue on its interest rate path? (10:09) - The future of an independent Fed and Powell (12:22) - What's driving the Dollar? (13:35) - Impact of tariffs vs. potential bigger fiscal deficit (14:32) - Quick thoughts - Gold, crypto, large/mid-caps, oil & gas, renewable energy, EVs, healthcare, banks, defence, China, Japan, Germany (20:41) - Summary

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this monthly China update, our experts discuss the recent shift in sentiment around Chinese equities, expected policy changes from the National People's Congress meeting, and the critical factors in solving China's structural challenges. They also examine the implications of a Trump or Harris presidency on China's economy and global supply chains, as well as the outlook for the Chinese Yuan and gold. This episode is presented by Richard Tang, China Strategist and Head of Research Hong Kong at Julius Baer, with Hong Hao, Partner and Chief Economist at GROW Investment Group.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode of The Week in Markets, equities analyst Jen-Ai Chua provides an in-depth look at the current landscape as we approach this week’s US Presidential election. We also explore the factors supporting potential upside for stocks, including strong year-end seasonality, anticipated rate cuts from the Federal Reserve, and corporate earnings continuing to hold up.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts US equities and gold continue to make new historical highs, while markets approach a pivotal period with major upcoming events. From key Q3 US earnings reports, the US Presidential election to China’s NPC congress and the aftermath of Japan’s general election. What are the investment implications of these events and how can investors navigate the uncertainties ahead? This episode is presented by Eric Mak from the Equity Research Asia team at Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode, we take a look at the US fixed income markets coming out of the third quarter of 2024, and what to expect in this space as we near the November 5 US presidential election. We also briefly discuss how other G10 and Emerging Market central banks have shifted following the Fed’s 50 basis point rate cut in September. It’s a different story in China, however, with its central bank just announcing reductions in the Loan Prime Rates. This episode is presented by Magdalene Teo, Head of Fixed Income Research Asia at Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts After a strong September for equities, the question now is if we can expect a year-end rally. An analysis of the charts provides a clear answer. In this episode of the Beyond Markets podcast, Mensur Pocinci, Head of Technical Analysis at Julius Baer, talks to Helen Freer about the significance of the steepening yield curve and the depreciating US dollar for equities, as well as which regions and sectors are set to outperform over the remainder of the year.00:38 – Introduction to speakers and topic01:00 – What is technical analysis?03:03 – What do September’s equity market returns mean for the rest of the year?04:34 – What does a depreciating US dollar mean for equities?06:02 – How significant is the steepening yield curve?07:46 – Which regions are set to perform better?08:30 – What’s next for Chinese equities?09:35 – Which sectors should do well now?10:25 – After reaching new all-time highs, how is gold set to perform now?11:30 – Closing remarksWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode of The Week in Markets, we provide a review of the latest press conference of China’s Ministry of Finance (MoF), how investors see it and the outlook of the Chinese equity market going forward. We also briefly discuss the latest outlook of the Fed interest rate, the implications of the US Presidential election and the ongoing reporting season. This episode is presented by Richard Tang, China strategist and Head of​ Research Hong Kong for Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts As we move into Q4 2024, gold prices continue their remarkable climb, while oil faces a more uncertain future amid heightened geopolitical tensions. What’s fueling these divergent trends in two of the world’s most important commodities, and where could they be headed next?Join Chris Irwin, Head of FX and Precious Metals Trading Asia, and Norbert Ruecker, Head of Economics & Next Generation Research at Julius Baer, as they offer expert analysis and insights on the key factors shaping the markets for gold and oil.00:19 Introduction00:41 Our gold and oil forecast01:55 Are geopolitics flare ups driving up gold prices?2:52 Asia and Western demand3:46 The impact of central bank gold holdings5:04 Why has gold continued to rise despite China’s pause in gold purchases6:02 Speculative gold positioning7:18 Significant redemptions in Western ETFs8:15 Where can gold go in a rate easing cycle?9:25 Recession risks10:20 Geopolitical noise impacting oil11:00 Escalating conflict – where can oil go?12:42 China’s stimulus – is there upside for oil?14:01 The supply and demand picture

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode of The Week in Markets, equities research analyst Jen-Ai Chua highlights how stronger than expected non-farm payrolls data has spooked US markets, while the much awaited press conference by China’s National Development and Reform Commission (NDRC) on Tuesday disappointed. More economic data releases in upcoming weeks should provide greater clarity as to the likelihood of ‘no landing’ in the US and the slowdown in China. We expect the Asian REITs to continue doing well as expectations of lower rates remain intact.This episode was recorded on October 8, 2024.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode we are joined by Damien Ng, one of Julius Baer’s next generation analysts, to discuss the background and economic significance of obesity drugs.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode of The Week in Markets, we discuss the newly elected Japan Prime Minister and the market response, as well as how his potential policies affect our investment thesis in Japan equities. For the Chinese market, we share a few data points on how strong inflows have been, why we think the tactical rally may extend and what this means for investors.This episode is presented by Richard Tang, the China strategist and Head of Research Hong Kong for Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this monthly China update, our experts analyse if the big rally in China equities has legs, following last Tuesday's "bazooka" policy announcements from China's central bank. They also take a closer look at recent trading flows and discuss what trends can be expected in currencies and stocks.This episode is presented by Richard Tang, China Strategist and Head of Research Hong Kong at Julius Baer, with Hong Hao, Partner and Chief Economist at GROW Investment Group.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts The Chinese financial regulators recently announced a series of monetary measures with an aim of supporting the economy. In this podcast, we discuss how effective the policies are, whether this is just another bounce or if it marks the beginning of a sustainable rally, and what this means for investors.This podcast is presented by Richard Tang, China strategist and Head of Research Hong Kong for Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode of The Week in Markets, we discuss the outlook of the US interest rate path after the larger-than-expected 50 basis points cut and the implications for different assets. We also comment on the recent bounce of the offshore Chinese equity market and our strategy around that.​This episode is presented by Richard Tang, China strategist and Head​ of Research Hong Kong for Bank Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts At the much-anticipated US Federal Reserve meeting on 18 September 2024, the monetary policy easing cycle finally began in the US with an announcement of a 50 basis point rate cut. In this episode of the Beyond Markets podcast, David Kohl, Chief Economist at Julius Baer, and Mischa Anand, Julius Baer’s Head of Advisory in Zurich, talk to Helen Freer about the significance of the Fed’s latest interest rate decision, what it means for the economy and the implications for investors.00:39 – Introduction to the topic and the speakers01:10 – Was a 50bp cut by the Fed appropriate?04:06 – What does the rate cut mean for the economy and investors?08:53 – Given a recession is not our base case, what is our macroeconomic outlook?13:03 – What about the outlook for equities now that the Fed easing cycle has started?15:06 - Does this mean we’re likely to see volatility ahead?17:14 - Where does the Fed go from here?20:08 – How significant is the start of the Fed’s rate-cutting cycle for other central banks and the rest of the world?23:07 - Closing remarksWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts We expect volatility in equity markets to remain elevated as we head towards the end of the year, amidst uncertainty around the upcoming US election, seasonal factors, and lingering fears of an economic slowdown. It therefore seems timely to look at what our analysts take into account when it comes to stock selection.In this episode of the Beyond Markets podcast, Bernadette Anderko, Investment Writer, talks to Philipp Lienhardt, Head of Equity Research, about how his team approaches the process of stock selection, what sectors they favour currently, and the subsectors that are set to offer good investment opportunities in the coming months.00:32 – Introduction to the topic and the speakers01:16 – Our approach to stock selection02:33 – Market Outlook into year-end 202404:13 – Information Technology: our preferences06:27 – Healthcare: more than just large-cap pharma09:06 – Industrials: focus on cyclical & structural growth opportunities11:22 – Opportunities across sectors12:01 - US election outcome - implications for stocks13:33 – Summary and conclusionWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts Two weeks ago, the S&P 500 index had its worst week of the year on the idea that the economy was weakening. Last week was its best week of the year, on the idea the Federal Reserve might cut rates by 50 basis points rather than the traditional 25, when it meets this Wednesday. Expectations have changed following two articles in the Wall Street Journal raising the prospect for a 50 basis point cut, and comments from three former Fed officials who each made a case for a 50 basis point cut. In July, the consensus was looking for Q3 S&P 500 index annual earnings growth of almost 7%. Now it’s looking for just 4%. However, the pace of growth is expected to improve thereafter; to 11% in Q4, and 13% and 14% respectively in Q1 and Q2 of next year.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts On Tuesday night, Former President Donald Trump and Vice President Kamala Harris faced off for the first time at the US presidential debate, each presenting two starkly differing visions for the country.Join Christian Gattiker, Head of Research and William Fong, Co-Head, Alternatives & Strategic Solutions Specialists Asia at Bank Julius Baer as they analyse the implications of each candidate's policy proposals, and how investors can navigate the potential shifts in the political landscape.1:15 The significance of the US presidential election3:29 How might Trump’s tariffs impact the economy?6:06 Trump’s energy policy and inflation8:18 Can the Fed keep its independence?9:34 Trump’s tax policy and potential deficit impact11:53 How can investors position in a Trump sweep?13:19 Harris’ tax policy and potential deficit impact15:37 Do price controls actually work?18:37 How might a Harris victory impact the economy?20:20 Why have bond markets not responded more significantly yet?21:38 What the polls are saying23:07 Predicting the outcome24:30 A very tight race

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode of Beyond Markets, we are joined by Nicolas de Skowronski, Head Wealth Management Solutions and member of the Executive Board, and Sonia Goessi, Head Region Switzerland and Europe and member of the Executive Board, to discuss Julius Baer’s 360-degree approach to wealth management and why it is important for everyone.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts August employment data show a labour market that is continuing to cool, but not at an alarming rate. The three Federal Reserve officials spoke last week all hinted the impending rate cut cycle could be an aggressive one. But the futures market is still pricing a higher chance of a 25 basis point cut than a 50 basis point one at next week’s meeting. Most political analysts expect Vice President Harris to fare less well than former President Trump in this week’s debate, so there is more upside for her. But for the first time, renowned political statistician Nate Silver’s Electoral College model puts Trump ahead of Harris.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this monthly China update, our experts analyse recent market movements and their implications for investors. They also discuss China’s property market, the evolving policy framework and its impact on Chinese households, the strengthening of the RMB and resulting currency trades, as well as the latest views on gold and Chinese government bonds.This episode is presented by Richard Tang, China Strategist and Head of Research Hong Kong at Julius Baer, with Hong Hao, Partner and Chief Economist at GROW Investment Group.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts Personal consumption expenditure (PCE) inflation rising 2.6% y/y in July is a perfectly acceptable reading for the market. Excluding the notoriously lagged housing component, it would be 2.1%, right where the Federal Reserve (Fed) wants it to be. However, inflation has less relevance for the market now that the Fed has made it clear that its focus is on employment. Initial jobless claims have returned to 230,000, and the Q2 annualised GDP has been revised upwards to 3.0% q/q, both suggesting that the economy is far from entering a recession. The Chinese government may allow homeowners to refinance as much as USD5.4trn of mortgages, which would be good for consumer sentiment. The dollar/renminbi exchange rate has broken an important support line. A rising renminbi tends to lift other Asian currencies. Usually, when money goes into a currency, the assets denominated in that currency see a lift too.This episode is presented by Mark Matthews, Head of Research Asia at Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts Three weeks ago, there were concerns of a new Black Monday, similar to the one in 1987. Today, global equities have reached a new high. Federal Reserve Chairman Jerome Powell’s speech at Jackson Hole focused on the labour market, where he said that the cooling is unmistakable. However, the Challenger Report showed only 26,000 job cuts in July, much lower than the 20-year average of 63,000 per month. A closer look at the rise in unemployment shows that much of it is coming from new entrants to the labour force who have not yet found jobs, leaving them still in the ranks of the unemployed. This episode is presented by Mark Matthews, Head of Research Asia at Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts How should investors position in Japan markets in light of the recent intense volatility in Japanese indices?Join Kelly Chia, Deputy Head of Research Asia at Bank Julius Baer, and Alexander Treves, Managing Director and Head of Investment Specialists, EMAP Equities at JP Morgan Asset Management, as they share their expert perspectives on how Japanese stocks are likely to fare in a rising Yen environment. They also explore the outlook for the Bank of Japan, and examine critical factors shaping Japan’s economy, including inflation trends and ongoing corporate reforms.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts The Bitcoin blockchain needs miners to function. In this episode of the Beyond Markets podcast, Manuel Villegas, Next Generation Research, talks to Helen Freer about the Bitcoin mining ecosystem, covering topics including how the Bitcoin mining process works, what artificial intelligence has to do with it, and how mining activity influences the overall market dynamics.00:51 Why has Bitcoin mining become such an important topic lately?03:01 How does mining actually work? 03:47 How do energy costs affect the profitability of Bitcoin miners?05:23 What is the hashrate?06:46 How does mining activity influence market dynamics?07:52 What drives the profitability of Bitcoin miners?09:28 What does artificial intelligence have to do with Bitcoin mining? 10:50 How might the outcome of the US election impact Bitcoin mining?12:08 The outlook for Bitcoin miners and the Bitcoin marketWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts As of 14th of August, over 92% of companies in the S&P 500 Index have reported earnings for the second quarter of 2024. What have we observed so far, and what trends do we see emerging?Cheng Hin Saw, Head of Equities Specialists Asia at Bank Julius Baer, presents five key takeaways from this earnings season.00:44 Earnings more resilient than revenues02:29 A broadening of growth03:27 Technology continues to dominate, but the narrative is shifting05:19 Weakness in Consumer sector06:36 Forward earnings guidance remains constructive

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode, we share where we are in stock markets after the big rebound we saw in the last 2 weeks. We will also have 2 key central bankers speaking at important events.This episode is presented by Kelly Chia (Deputy Head of Research, Asia).

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts Markets have been dominated by extreme bouts of volatility in the past few weeks, such as US equities seeing 3-5% intraday drawdowns, and the Japanese Yen appreciating almost 10% in just 3 weeks. Meanwhile, concerns of overhype in the AI theme and US recession fears feature prominently.​Join Eric Mak from Julius Baer’s Equity Research Asia team, as he shares insights on how to navigate this turbulence.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts "Our time has come, but we must kick the ball to score the goal." In this episode, Nilesh Shah, Managing Director at Kotak Mahindra Asset Management Company, shares his insights on India's remarkable economic growth, challenges ahead, and the key risks investors should be aware of. He also highlights his takeaways from the recent Union Budget and Economic Survey Report.This episode is hosted by Rishabh Saksena, Head of Investment Specialists Asia at Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts This episode was recorded on August 5, 2024.The intensity of the selloff in markets has taken many investors by surprise, with Japan's Nikkei index tumbling around 18% in the past 5 days. Weaker than expected US labour data also triggered the Sahm rule, a signal of recession, and has spooked US equity markets as well.​This episode is presented by Jen-Ai Chua, Equities Analyst at Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts This is a special update from Julius Baer's partner show, Moving Markets.Listen to our daily updates on Moving Markets at the links below:Apple Podcasts: https://podcasts.apple.com/sg/podcast/moving-markets-daily-news/id1628789317 Spotify: https://open.spotify.com/show/2AYJMvVqqIavsPP7v4YxEs?si=tpGFjNXYQYWD2NfLtI2XCAAfter the global stock-market rout accelerated yesterday, with losses cascading across tech shares and Japanese equities crashing by the most in over a decade, Japanese stock indices have staged a turnaround and are leading gains in Asia today. In today’s special episode, Christian Gattiker, Head of Research, shares his insights into the latest equity market developments and how he see things going forward. Manuel Villegas, Next Generation Research, provides us with an update on digital assets and talks about the prospects of a Trump trade.00:00 Introduction by Helen Freer (Investment Writing)00:27 Markets wrap-up by Jonti Warris (Investment Writing)04:40 Equity market developments: Christian Gattiker (Head of Equity Strategy)09:22 Digital assets update: Manuel Villegas (Next Generation Research)13:03 Closing remarks by Helen Freer (Investment Writing)Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this monthly China update, our experts discuss their key takeaways from China’s Third Plenum and Politburo meeting. They also analyse the effect of recent surprise rate cuts, and the so-called “cash for clunkers” program in boosting consumption. They also discuss the Chinese equity market in the context of an ongoing sector rotation in US tech stocks, strengthening of the Japanese Yen, as well as latest developments in the US-China chip dispute.This episode is presented by Richard Tang, China Strategist and Head of Research Hong Kong at Julius Baer, with Hong Hao, Partner and Chief Economist at GROW Investment Group.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts When the market goes down, people look for reasons. The one most cited now is the idea that Artificial Intelligence will not be as profitable as expected. With June Personal Consumption Expenditure Price index showing inflation is nicely under control, the Federal Reserve should indicate it will cut rates in September, when it meets this week. History is on the side of the S&P 500 index being nicely higher a year after the first rate cut in a rate cut cycle, as long as there is no recession. We forecast US GDP growth at 2.1% next year. The past 4 economic expansions since the “Great Moderation” began in 1982 lasted on average 103 months, while the current expansion is just 51 months old.This episode is presented by Mark Matthews, Head of Research Asia at Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In only three of the past thirty years did the S&P 500 index do as well or better than what it has done year-to-date. A consolidation or correction is likely over the next month or so and indeed would be a healthy thing, for the market to carry on later in a sustainable manner. While it’s still early days, Q2 earnings look like they will beat the consensus forecast of 9.7% y/y (which is already the highest since Q4 2021). Odds infer that if the Democrat Party picked a nominee other than Vice President Kamala Harris, its chances of winning the presidential election would be over 50%. But almost all the potential candidates have already pledged their support to her, meaning they don’t want to run. Donald Trump is therefore most likely to win, which in general is perceived as a market-friendly event.This episode is presented by Mark Matthews, Head of Research Asia at Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts US equity markets have undeniably outperformed their European peers so far in 2024, but there are countries and segments within Europe that we believe are now set to benefit from the current economic environment, and that despite disappointing data readings in June, are nevertheless worthy of investors’ attention.In this episode of the Beyond Markets podcast, Bernadette Anderko, Investment Writer, talks to Leonardo Pellandini, Equity Strategist, about where his team sees opportunities in European equities, which countries now carry an Overweight rating, and the sectors and segments that currently offer diversification benefits for investors.00:32 – Introduction to the topic and speakers01:15 – Impact of elections on UK equities02:50 – French equities after parliamentary elections03:58 – Why consider European equities when US indices are outperforming06:01 – European industrials and our preferred subsectors06:54 – The case for mid-cap stocks07:26 – Overweight calls for Germany and Switzerland and a preference for cyclical sectors09:25 - Does disappointing recent economic data taint our views?10:19 - Summary of our equity calls within Europe11:05 - ConclusionWould you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode, we share some thoughts about the ​assassination attempt on​ Donald Trump over last weekend as well as what to expect in an earnings heavy week.This episode is presented by Kelly Chia (Deputy Head of Research, Asia)

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode, we talk about what we can expect from a data heavy week and what the 9% Q2 earnings growth expected for the S&P500 means for investors.This episode is presented by Kelly Chia (Deputy Head of Research, Asia), and was recorded on 9 July, 2024.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this monthly China update, our experts discuss if the Chinese property market has finally reached a trough, as well how to pre-position for potential tax reforms in the country, particularly consumption tax. They also assess the impact of previous US trade tariffs on China, and explore the relationship between gold and productivity cycle.This episode is presented by Richard Tang, China Strategist and Head of Research Hong Kong at Julius Baer, with Hong Hao, Partner and Chief Economist at GROW Investment Group.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode of Beyond Markets, Alisa Wood, Partner, KKR, shares her insights on private equity and in particular, open-ended, evergreen fund structures. We explore what evergreen structures are, how it compares with traditional, closed end 10-year fund structures, and why it is advantageous to build exposure to private equity in a portfolio. This episode is hosted by William Fong, Co-Head, Alternatives & Strategic Solutions Specialists Asia at Bank Julius Baer. 0:18: Introduction1:14: What are open-ended, evergreen private equity structures?2:50: The growing popularity of evergreen private equity structures6:06: Open-ended vs close-ended structures9:35: Redemption opportunities in evergreen funds12:22: Institutional experience & investment focus18:29: Why invest in private equity?23:23: Get to know Alisa – PEWIN, The Public Theater31:01: Recommended musicals in NYCImportant legal information:The information and opinions expressed in this podcast constitute marketing material and are not the result of independent financial or investment research.Please refer to www.juliusbaer.com/legal/podcasts for further important legal information.Kohlberg Kravis Roberts & Co. L.P. (KKR) disclaimer:This podcast is for informational purposes only and should be considered of a general nature. The information in this podcast is current only as of the date published. No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of Kohlberg Kravis Roberts & Co. L.P. (along with certain affiliates), or any of its respective partners, executives, employees as to the accuracy or completeness of the information or opinions contained in this presentation and no responsibility or liability is accepted by any of them for any such information or opinions. Such information or opinions should not be relied upon and are subject to change without notice. Anyone listening to this podcast should consult their own advisors relating to any investment decision. Statements contained in this podcast that are not historical facts are based on KKR's current expectations, estimates, projections, opinions and beliefs. These statements involve known and unknown risks, uncertainties and other factors and should not be relied upon. There are several risks associated with investments in private equity structures. In addition, any projections or other estimates, including estimates of returns or performance, are “forward-looking statements” and are based on certain assumptions that may change.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode, we provide some highlights of what happened during the 1st US presidential debate of 2024 and what to expect from a very heavy macro data week.This episode is presented by Kelly Chia (Deputy Head of Research, Asia).

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts How are loans made by direct lenders different from bank loans? What should potential investors in this asset class need to be aware of, and for whom is it suited.Listen to the latest Beyond Markets podcast, with Fiona Kenyon, Head of Private Markets Advisors at Julius Baer, and Craig Packer, Co-President and Head of Credit at Blue Owl Capital, to learn more about the world of private credit and direct lending.01:51 Introduction to topic and speakers02:50 What exactly is private credit and is it the same thing as direct lending?04:14 Are companies that borrow from direct lenders typically of poorer quality than those that get bank loans?06:17 What’s the history of direct lending? Is this a new asset class or has it been around for a long time?07:56 Are the characteristics of direct loans very different from bank loans? 10:04 Why has direct lending grown so much in the past few years?14:04 Is this ‘the golden age of credit’? What are some of the risks of direct lending as an asset class? 16:01 Given the complexity, how can direct lending fit into a wealth investor’s overall portfolio?Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode, we review what happened last week, Nvidia’s new achievement unlocked as most valuable company in the world and the US presidential elections. We also dive into Nvidia CEO Jensen Huang’s mindset on how he arrived at where he is today.This episode is presented by Kelly Chia (Deputy Head of Research, Asia).

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In today’s episode of Beyond Markets we discuss real estate and how we can make buildings better with Carsten Menke, Head of Next Generation Research at Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts With an improving economic outlook and a broadening recovery, what should investors expect in the second half of 2024? In this episode of the Beyond Markets podcast, Christian Gattiker, Head of Research, and Kelly Chia, Deputy Head of Research Asia, talk to Helen Freer about the current market environment and where they currently see opportunities for investors.01:02 What are the implications for investors of the improving economic outlook?02:05 What will central bank rate cuts mean for equities?03:34 Our focus within equities05:24 Why are mid-caps set to do well?06:16 What impact will geopolitics and US elections have on equity markets?07:01 What is our preference in terms of regions?07:49 Why do we like industrials?09:07 Why is Japan currently attractive?10:22 What opportunities do we see in emerging markets?11:21 What Next Generation themes are worth highlighting now?11:58 Where do we see opportunities within fixed income?13:34 What about emerging market debt?14:09 Summary and conclusions on fixed income opportunities15:10 Current thoughts on gold16:27 Summary of outlook for H2 2024Would you like to support this show? Please leave us a review and star rating on Apple Podcasts, Spotify or wherever you get your podcasts.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode of The Week in Markets, we review the recent central bank meetings and new ideas in the US outside of Magnificent 7. In Asia, we discuss why we still like Japan and comment on the implications of recent EU tariffs on China. We also make a few simple points on private equity investments.This episode is presented by Richard Tang, Head of Research Hong Kong for Bank Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts After many years of abnormalcy in the fixed income market, we are finally starting to see some normalcy returning to it. However, that doesn't mean there are no problems with government bonds. The US debt load has risen to 35 trillion post the pandemic, consequences of the US election are uncertain, and military spending will go up if tensions continue to rise around the world. On the other hand, the world economy is doing well, companies are becoming better run, and inflation expectations are generally falling. Against this backdrop, investors could look to investment grade corporate bonds in the fixed income space.This episode is presented by Mark Matthews, Head of Research Asia at Julius Baer.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this monthly China update, our experts review the preliminary impact of the recent key measures announced by Chinese policymakers to stabilise the property market, and if we could see a sustained recovery. The Chinese equity market has also rallied strongly since April, and our experts discuss what it could take to drive a second rally, and the sectors that should perform. They also share their thoughts on how to navigate contradictory Chinese PMI numbers, as well as renewed US-China trade relation tensions. This episode is presented by Richard Tang, China Strategist and Head Research Hong Kong at Julius Baer, with Hong Hao, Partner and Chief Economist at GROW Investment Group.

The Beyond Markets podcast channel is wrapping up on a high note at the end of 2025. But do not worry! The conversation continues on our podcast Moving Markets by Julius Baer, where we'll be sharing fresh insights and analysis on current market developments. Subscribe to Moving Markets on Spotify Subscribe to Moving Markets on Apple Podcasts In this episode of the Week in Markets, we discuss the outlook of interest rates as the key driver for global assets. We propose ideas for putting fresh money to work, discuss the US elections, and China. Last but not least, we feature our latest upgrade in gold. This episode is presented by Richard Tang, China Strategist and Head of Research Hong Kong for Bank Julius Baer.