Saxo Bank Makes Outrageous Predictions for 2024

Because the 12 months attracts to a detailed, Wall Road banks are unveiling their forecasts for 2024, and Denmark’s Saxo Financial institution has as soon as once more embraced its annual custom of presenting outrageous predictions. Termed as “unlikely however underappreciated occasions,” these forecasts may doubtlessly shake the worldwide financial system and elevate volatility in monetary markets.

Topping the listing of Saxo Financial institution’s eccentric predictions for 2024 is the victory of Robert F. Kennedy Jr. within the presidential election. Regardless of earlier criticism for anti-vaxx and anti-Semitic feedback, RFK Jr. enjoys a plus-7.5 favorability ranking amongst Individuals, as per polling knowledge from FiveThirtyEight. Saxo Financial institution suggests {that a} mixture of a predicted recession and voter fatigue over selecting between Joe Biden and Donald Trump may pave the way in which for his success in November.

Within the state of affairs of an RFK Jr. victory, Saxo’s head of FX technique, John Hardy, anticipates a downturn in inventory costs for protection, drug, and healthcare firms. Concurrently, main gamers in Large Tech, which have witnessed substantial returns this 12 months, would doubtless commerce extra cautiously as a consequence of considerations about potential crackdowns on monopolies.

Moreover, Saxo Financial institution envisions a high-profile authorities official falling sufferer to AI deepfake know-how, subsequently triggering a nationwide safety disaster. This might intensify scrutiny on builders of clever language bots like Google and OpenAI, whereas conventional media firms such because the New York Occasions may expertise a considerable surge in share costs, in line with Saxo’s head of fairness technique, Peter Garnry.

Six Extra Outrageous Predictions from Saxo Financial institution

The Wall Road banking big has launched six extra outrageous predictions for 2024, together with skyrocketing crude oil costs, and fast progress within the Japanese financial system. These predictions embody:

1. Crude Oil Hits $150: Saxo envisions a surge in crude oil costs, reaching $150 per barrel. This spike grants Saudi Arabia the monetary muscle to determine a World Champions League soccer competitors.
2. McDonald’s and Coca-Cola Soar Amidst Weight problems Issues: Saxo Financial institution expects the shares of fast-food giants McDonald’s and beverage behemoth Coca-Cola to skyrocket. The rise is because of the recognition of weight problems medication like Ozempic, fueling unhealthy habits and triggering a worldwide well being disaster.
3. US Treasury Bonds Go Tax-Free: Saxo proposes an unconventional strategy for the US to handle its towering debt by making Treasurys tax-free. This transfer is prone to ignite a considerable rally within the bond market.
4. Formation of the “Rome Membership”: Six closely indebted nations – the US, the UK, India, Brazil, Canada, and France – allegedly kind the “Rome membership” to coordinate efforts to scale back their deficits.
5. Japan’s Financial Increase: Saxo predicts an financial growth for Japan, with GDP progress exceeding 7%. This surge is anticipated to strengthen the yen in opposition to the US greenback.
6. Luxurious Shares Crash On account of EU Wealth Tax: In response to the European Union’s introduction of a “Robin Hood”-style wealth tax, luxurious shares, together with these of LVMH, the mum or dad firm of Louis Vuitton, are anticipated to plummet.

In its official press launch on Tuesday, Saxo Financial institution famous:

“Although these predictions should not Saxo Financial institution’s official market forecasts, they’re a reminder to traders to contemplate all potential outcomes, together with those who appear far-fetched. Outrageous predictions are a deliberate effort to push the boundaries of market individuals’ imaginations and put together them for any eventuality”.

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