The narrowness of the advance at least a medium term concern.

Today - a look at how narrow the advance is in the US equity market that is taking the main indices close to their record highs and how this rhymes with past less-than-promising outcomes.. As well, we encourage market participants to keep bond yields and geopolitical headline risks on the radar - particularly for Europe if Trump announces an embargo on exporting diesel. This and much more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links Some believe that Trump shouldn't and even really shouldn't announce a diesel export embargo  Beware bond holders and savers! Russell Napier is a must-listen on a long-form podcast on the coming financial repression as we move to build what must be built and do so while keeping governments funded. A Substack post on China's AI scene - very thorough. Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at [email protected] for feedback and questions. Click here to open an account with Saxo. Intro music by AShamaluevMusic DISCLAIMER This content is marketing material. Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment advice or an encouragement to invest in a particular manner. Historic performance is not a guarantee of future results. The instrument(s) referenced in this content may be issued by a partner, from whom Saxo Bank A/S receives promotional fees, payment or retrocessions. While Saxo may receive compensation from these partnerships, all content is created with the aim of providing clients with valuable information and options.