Mind the Hawks | MarketTalk

Hotter-than-expected US inflation has changed the market conversation: investors are debating how much the Federal Reserve could hike in December. Treasury yields jumped, equities weakened and the dollar gained. But resilient earnings across sectors complicate the picture. In today’s Market Talk, we explore the flattening yield curve, the pressure higher borrowing costs put on technology valuations, and the potential for rotation towards defensive stocks. SoftBank’s losses and Anthropic’s reduced IPO ambitions highlight different risks surrounding AI investment. Could Switzerland’s SMI offer relative resilience? And will US real yields justify further dollar strength as growth expectations face scrutiny in coming months? Watch the full episode to find out more! 0:00 Intro 1:14 Hot CPI reshaped Fed expectations 3:10 Bond yields rise – shorter term yields rise faster 4:00 Equities face headwinds 8:27 USD is supported, but hawks alone may not suffice to justify further appreciation Ipek Ozkardeskaya has begun her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked at HSBC Private Bank in Geneva in relation to high and ultra-high net worth clints. In 2012, she started as FX Strategist at Swissquote Bank. She worked as a Senior Market Analyst in London Capital Group in London and in Shanghai. She returned to Swissquote Bank as Senior Analyst in 2020, and launched her own website ipekScope.com in 2025. #Inflation #CPI #FederalReserve #AI #SoftBank #Anthropic #USD #SMI #Swissquote #MarketTalk _____ 👉 Discover our brand and philosophy: https://www.swissquote.com/en/group _____ 👉 Deepen your trading and investing knowledge with Swissquote Inspire: explore our articles, analyses, webinars and exclusive content: https://www.swissquote.com/private/inspire _____ 👉 Discover Swissquote’s culture and join a company that values innovation, diversity and team spirit: https://www.swissquote.com/en/careers