If you’re not confused, you’re not paying attention

Link to slide deck: https://bit.ly/3LqrFbg   - Today we look at the most rangebound US market since late 2021 and wonder what will spark the next momentum move in either direction as we note the confusing evidence that various macro data points are throwing off about the US economy. We also note the increasingly downbeat earnings outlook from analysts and the huge incoming load of earnings reports, including from Microsoft and Alphabet today after the close. In commodities, we look at investor flows and the latest declines in wheat prices, while the weak US dollar is really mostly a strong Euro at the moment. Today's pod features Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting. Read daily in-depth market updates from the Saxo Market Call and Saxo Strategy Team here. Click here to open an account with Saxo   - Intro and outro music by AShamaluevMusic