Market sees a glass that is half full of liquidity for now.

Link to slide deck: https://bit.ly/42mi0sE   - Today we note the strong comeback in sentiment yesterday after an initial dip on the ECB moving ahead with a 50 basis point hike that surprised many and was initially read as a possible policy mistake. An injection of cash into troubled lender First Republic Bank in the US by peers in the banking industry was also behind some of the brightening in sentiment yesterday. We talk through the difficulty in interpreting market signals here when the first move in a shock is simply to reverse prior trends, something that doesn't always add information value. We also look at positive versus negative interpretations of the backdrop, action in key commodities and the earnings and macro calendar for the week ahead and more. Today's pod features Garnry on equities, Ole Hansen on commodities, and John J. Hardy hosting and on FX. 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