Geopolitics could continue to dog this market for a long while yet.

Today, a run through the outlook for crude oil with Saxo Head of Commodity Strategy Ole Hansen as we face a key week ahead, given Iran's bid for a 7-day negotiation window with the US. More with Ole on natural gas, the El Niño status and impacts and gold. Elsewhere, a run through the macro and rates and the week ahead, together with interesting single stocks stories driving the market action yesterday. Today's pod hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Links

Michael Every on the latest Macrovoices podcast, with a bit more granularity and bias on what may happen next than usual on Iran and Ukraine/Russia.

John's latest The FX Trader piece with thoughts on USDJPY and much more.

FT focus piece on quantum computing and whether there is a path to profit for the technology.

FT on UK & German exposure to Chinese economy, but leaving out in the title that the US is way up there with these two economies as well.

FTAlphaville with a provocative headline: SpaceX pivots away from space. Whoa.

TypeSafe AI has a new and cheaper AI model called Jev that is supposedly more efficient for software development than the tools from Anthropic and OpenAI and is getting massive attention.

For the historians: was it iron that triggered the Bronze Age collapse because iron was a weapon of mass decentralization? Super interesting!

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