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Search resuls for: "Steen Jakobsen"


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Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEU wealth tax and the end of U.S. capitalism: 'Outrageous predictions' for 2024 and beyondSteen Jakobsen, chief investment officer at Saxo Bank, outlines the Danish investment bank's self-described "outrageous predictions" for 2024.
Persons: Steen Jakobsen Organizations: Saxo Bank Locations: U.S
An EU wealth tax, the "end of capitalism" in the U.S. and a major health crisis arising from obesity drugs are just some of the "outrageous predictions" put forward by Saxo Bank in a report published Tuesday. Heading into 2024, the Danish investment bank suggested the world is at an "inflection point, with the familiar road of the last decade coming to an end." The predictions focus on a "series of unlikely but underappreciated" events that if they were to occur, would "send shockwaves across the financial markets." This would be rendered more likely if the population "realises how little in tax billionaires are actually playing," he speculated, with social unrest frequently simmering across the continent. In the Netherlands, it is even better to be a billionaire, as the average tax rate is below what US billionaires pay, Garnry noted.
Persons: Irene, I've, Steen Jakobsen, Robin Hood, Peter Garnry, Garnry Organizations: Saxo Bank, CNBC, EU, European Union, Equity Locations: Lower Manhattan , New York, EU, U.S, Ukraine, North America, East Asia, France, Netherlands
Bitcoin leaps to 2023 high on ETF bets
  + stars: | 2023-10-24 | by ( ) www.reuters.com   time to read: +3 min
Bitcoin rose more than 6% to $35,198, its highest since May 2022. It had surged 10% on Monday in its best session for almost a year and its price has doubled in 2023. Crypto-linked shares such as Coinbase Global (COIN.O) or bitcoin owner MicroStrategy (MSTR.O) rose in after-hours trade. An exchange-traded fund (ETF) owning bitcoin on behalf of fund investors is seen as a driver of demand because it would allow anyone reluctant to trade crypto markets a means of buying exposure to bitcoin through the stockmarket. So the ETF would make a large audience and increase liquidity," said Steen Jakobsen, CIO at Saxo.
Persons: Dado Ruvic, MicroStrategy, Steen Jakobsen, Kyle Rodda, Capital.com, Javier Milei, Tom Westbrook, Rae Wee, Brigid Riley, Shri Navaratnam Organizations: REUTERS, BTC, Investment, BlacRock's, Reuters, U.S . Securities, Exchange Commission, Saxo, BlackRock, SEC, Hamas, Thomson Locations: Asia, SINGAPORE, BlackRock, U.S, Singapore, Tokyo
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email1 in 3 chance of Fed rate cuts in the fourth quarter amid stagflation, CIO saysSteen Jakobsen, chief investment officer at Saxo Bank, discusses consumer spending trends, treasury yields and the Fed rate outlook.
Persons: Steen Jakobsen Organizations: Saxo Bank
Meat bans, soaring gold prices and Britain voting to 'un–Brexit' could be on the cards for 2023, according to Saxo's Outrageous Predictions. Bloomberg / Contributor / Getty ImagesSaxo Bank's "outrageous predictions" for 2023 include a ban on meat production, skyrocketing gold prices and Britain voting to "un-Brexit." "I think gold is going to fly," he added. Meat production to be banned Meat is responsible for 57% of emissions from food production, according to research published by Nature Food, and with countries across the world having made net-zero commitments, Saxo says it is possible at least one country could cut out meat production entirely. Meat is responsible for 57% of emissions from food production, according to research published by Nature Food.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHigh frequency data shows U.S. economy is not heading for recession, economist saysSteen Jakobsen, chief investment officer at Saxo Bank, says the market is overpricing a U.S. recession and explains why investors should be stripping out companies with "intangible" products, such as Big Tech.
Gold surging to $3,000 an ounce is part of Saxo Bank's list of 10 Outrageous Predictions for 2023. The Danish bank's annual list also foresees Japan setting a floor of 200 yen to temporarily halt a surging US dollar. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. Saxo predicted 2023 as the year the market discovers that inflation will continue to burn hot for the foreseeable future, driving gold to $3,000 an ounce. "Under-owned gold rips higher on the sea-change reset in forward real interest rate implications of this new backdrop, it said.
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