Saxo Q1 Outlook: What happened to the future?

Dubai, United Arab Emirates, 9th January 2024: Saxo has today published its Q1 2024 Quarterly Outlook for global markets, including trading ideas covering equities, FX, currencies, commodities and bonds, as well as a range of central macro themes impacting client portfolios. 

In Q4 of last year, Saxo called for investors to take a long position on bonds as the bank’s strategists recognised that the global economy cannot deal with historically high real yields, as productivity and population growth are simply not high enough. With a historically long lag to monetary policy, the high bond yields in 2023 are finally beginning to bite, and central banks are priced to cut policy rates in 2024, changing the underlying dynamics.

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