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Episod

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  Can the equity rally withstand rising yields? 25.09.2026 10min

  Rising oil prices and surging global bond yields are testing investors’ appetite for risk, but equities continue to show remarkable resilience. The question is whether the equity rally can withstand higher borrowing costs and what history can tell us. In 2007, US 10-year yields climbed above 5% while the S&P 500 continued to advance — until deteriorating credit conditions and the subprime crisis changed the picture. Today, strong earnings, fiscal spending and massive AI investment are helping markets absorb higher rates. But risks are building. Oracle’s latest data-centre developments highlight growing concerns around power availability, financing and who ultimately carries the cost of the AI boom. With AI increasingly embedded in equity indices, bond issuance and investment flows, it has become a cornerstone of market strength. If earnings hold and yields rise orderly, the rally could continue. If something cracks in AI, the story could change quickly. Listen to find out more! 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 clients. 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.
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  Hawkish Fed expectations rock the market 24.09.2026 10min

  Strong economic data came as bad news for markets. Surprisingly strong PMI figures from the US and Europe highlighted resilient growth, new orders and hiring, while persistent price pressures strengthened the case for further monetary tightening. US Treasury yields jumped across the curve, the dollar strengthened and technology stocks came under pressure as investors reassessed the Fed outlook. In FX, EURUSD is approaching a critical technical support, while USDJPY remains caught between widening yield differentials and the threat of Japanese intervention. Meanwhile, lower oil and diesel futures offer some relief, although energy costs remain elevated. Gold and Bitcoin are also under pressure from rising yields and a stronger dollar. Listen to find out more! 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 clients. 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.
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  The reality behind the Silicon Valley dream | Unlocked 23.09.2026 37min

  🚀 What does it really take to build a startup in Silicon Valley? Oliviero Pinotti went from studying hospitality at EHL to teaching himself how to code, becoming an early engineer at a Y Combinator-backed startup, and eventually making it into Y Combinator himself. Today, he is building Alfera, an AI startup developing AI workers for businesses. 🎙️ In this episode of UNLOCKED, Oliviero takes us behind the Silicon Valley dream: the relentless pace, the pivots, the fundraising rejections and the reality of building a company from the ground up. He also breaks down what Europe gets wrong about startups, why execution often matters more than planning, and what Y Combinator really looks for in founders. From coding 12 to 14 hours a day in his student room to building at the heart of the AI boom, a conversation about ambition, risk and what it actually takes to turn an idea into a company. ➡️ Find Oliviero on Linkedin: https://swq.ch/4riaj3W ➡️ Learn more about Alfera: https://swq.ch/4y1kEno . . For informational purposes only. Not investment advice or a financial promotion. May not be applicable in all jurisdictions. _____ 👉 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/in... _____ 👉 Discover Swissquote’s culture and join a company that values innovation, diversity and team spirit: https://www.swissquote.com/en/careers
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  Lower crude doesn’t mean lower energy costs 23.09.2026 10min

  Oil prices are falling, but the relief across energy markets remains only partial. Diesel prices are surging to record highs as supply disruptions, elevated shipping costs and geopolitical tensions keep refined products under pressure. Meanwhile, Donald Trump has backed the idea of restricting US diesel exports to ease domestic prices — but if only it were that simple. Restricting exports could tighten global supply, push international diesel prices even higher and ultimately have consequences at home. Elsewhere, the US dollar remains well bid despite cheaper oil, while the SNB prepares for its latest policy decision and Bitcoin is rebounding alongside technology stocks while its recent correlation with gold begins to weaken. Could this divergence signal the emergence of new market trends — and perhaps the beginning of the end of the crypto winter? Listen to find out more! 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 clients. 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.
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  Oil pullback, Muse AI popularity fuel optimism 22.09.2026 9min

  Oil prices are retreating on Middle East peace hopes, while AI optimism is roaring back as Meta’s Muse AI fuels expectations for a new wave of agent-driven computing demand. The improved mood comes into a relatively quiet week for economic data and events. And if oil prices continue to retreat, the picture could brighten further: easing energy-driven inflation fears could pull global yields lower, relieve pressure on central banks and give risk appetite more room to run. Listen to find out more! 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 clients. 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.
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  How Charlene Cong went from $500 to a 7-Figure Portfolio in 10 Years | Unlocked 22.09.2026 40min

  What does it really take to reach financial freedom? 💰 Charlene started investing with just $500. A decade later, she had built a seven-figure portfolio and reached the point where she no longer had to rely on her corporate career. Her strategy? Surprisingly simple. 🎙️ In this episode of UNLOCKED, Charlene shares the journey behind her financial independence, from saving up to 50–60% of her income to building a simple, goal-driven investment strategy. She also breaks down the mistakes that hold investors back, from waiting for the “perfect” moment to home bias, overconfidence and unnecessary complexity. . . For informational purposes only. Not investment advice or a financial promotion. May not be applicable in all jurisdictions. . Find Charlene: 🌐 FinFit Solution: https://swq.ch/3SR4m0L 📺 Youtube: https://swq.ch/3UtjGBv 🔗 Linkedin: https://swq.ch/3TlvWUd _____ 👉 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/in... _____ 👉 Discover Swissquote’s culture and join a company that values innovation, diversity and team spirit: https://www.swissquote.com/en/careers
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  FX Intervention: trading the move and what comes after 21.09.2026 6min

  Currency interventions can create some of the most violent moves in FX markets. When authorities step in to defend a currency, crowded positions can unwind rapidly, triggering stop-losses, short squeezes and a surge in volatility. In this educational episode of Market Talk, we explore how FX interventions work, why positioning matters, and how traders can approach both sides of the intervention trade. We look at the Japanese yen and Swiss franc as examples, examine how authorities can exploit crowded positioning, and explain why an intervention can become much more powerful once the market starts doing part of the work. But intervention alone rarely changes the underlying economic trend. Once positioning has been cleaned up and volatility settles, markets return to fundamentals: interest rates, inflation, growth, capital flows and monetary policy. The key distinction: trade the intervention tactically, but trade the fundamentals strategically. Listen to find out more! 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 clients. 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.
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  Encouraging news on AI, oil and the BoJ — but not enough 18.09.2026 10min

  Markets found some relief this week, but the underlying risks are far from resolved. Nvidia revived appetite for AI and semiconductor stocks, yet massive capex requirements, financing needs and shrinking free cash flow remain important concerns. Meanwhile, oil prices eased, and global inventories are falling more slowly than JP Morgan’s earlier “no-resolution” scenario had feared. That buys the world precious time — but not necessarily enough if Middle Eastern supply disruptions persist. Central banks are also walking a tightrope. The Bank of England overhauled its QT programme, the Fed raised rates to defend its inflation objective, and the Bank of Japan delivered another 25bp hike. Yet markets want more evidence that Japanese rates are heading towards neutral. Across AI, oil and monetary policy, there is some good news — just not enough to eliminate the risks. Listen to find out more! 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 clients. 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.
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  Fed hikes, BoJ must follow 17.09.2026 10min

  The Fed delivered a widely expected 25bp rate hike, putting inflation firmly ahead of political pressure for lower interest rates. The decision triggered a hawkish market reaction, with short-term Treasury yields jumping, while the longer end and US equities showed a more contained response. Attention now turns to the Bank of England and Bank of Japan. The BoE faces an increasingly uncomfortable mix of persistent inflation, higher energy costs, fiscal concerns and a weakening labour market, making the path ahead particularly complicated. Meanwhile, the BoJ is expected to raise rates as policymakers try to contain renewed pressure on the yen. But today’s decisions are only part of the story. The bigger question for markets is how far these central banks are prepared to tighten, how quickly they will move, and what higher rates could mean for bonds, currencies and equities over the coming months. Listen to find out more! 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 clients. 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.
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  CLARITY is denied! | Crypto Talk 16.09.2026 7min

  During the recording it was unclear, but it looks like CLARITY was just denied. 00:00 Intro 00:25 Disclaimer 00:29 Preview 00:44 Bitcoin 04:04 Ethereum 05:09 Solana 05:45 Near 07:07 Subscribe & Good bye #crypto #cryptonews #cryptotrading #swissquote _____ 👉 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
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  Fed hike is probably the less-bad option 16.09.2026 10min

  Markets are heading into the Fed decision with a clear message: a 25bp rate hike may actually be the less-bad option. With Fed funds futures overwhelmingly positioned for a hike, a surprise hold could raise uncomfortable questions about inflation credibility — especially as oil prices and Treasury yields move increasingly closely together. Broadly, the US 10-year yield has pushed above 5%, putting pressure on bonds, equity valuations and financing conditions. Yet not every company is equally vulnerable. Hyperscalers like Alphabet, Microsoft, Meta and Amazon still generate returns on invested capital well above their cost of capital, giving them a substantial cushion against higher rates. Highly leveraged and capital-intensive businesses may not be so lucky. Could a firm Fed stance ultimately help anchor long-term inflation expectations and relieve pressure on the long end? And how high can Treasury yields climb before equity markets finally feel the heat? Listen to find out more! 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 clients. 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.
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  Winners & losers of AI slowdown 15.09.2026 10min

  The AI trade is entering a new phase. Until now, investors worried about valuations, circular financing, soaring capex and whether massive spending on chips and data centres would eventually generate adequate returns. Now, the debate has shifted to the speed of AI development itself. That change is already creating unexpected winners and losers, as investors reconsider who benefits if the race for ever-larger frontier models slows. The consequences could also spill into the broader economy, where AI-related investment has become an important source of growth. Add surging energy prices, persistent inflation, geopolitical uncertainty and expensive borrowing, and the timing is hardly ideal. All this comes as the Fed gathers for a highly uncertain policy meeting, with markets heavily betting on a 25bp hike despite receiving no such promise from Kevin Warsh’s Fed. Listen to find out more! 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 clients. 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.
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  What happens if AI growth slows? 14.09.2026 10min

  Oil prices are pushing higher as Middle East tensions intensify, while growing concerns about the pace of AI development are putting the technology trade under pressure. A potential AI slowdown also raises a bigger financial question: who pays for the massive data-centre leases, debt and power commitments accumulated during the AI boom? Meanwhile, central banks add another layer of uncertainty. The Federal Reserve and Bank of Japan are expected to raise rates this week, increasing borrowing costs just as concerns about AI-led growth emerge. Technology-heavy markets, including the Kospi, TAIEX and Nasdaq, could remain particularly vulnerable, while higher oil prices weigh on the broader market. With bonds under pressure and even traditional safe havens like gold and the Swiss franc struggling, investors may increasingly look toward energy, miners and hard commodities for relative protection. Listen to find out more! 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 clients. 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.
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  Oil, yields spike, sentiment weak 11.09.2026 10min

  Oil prices are soaring, inflation pressures are building and bond yields are flying. Brent crude hit $110 per barrel as Middle East tensions intensified, while US producer inflation accelerated to 5.4%, adding pressure on the Federal Reserve ahead of next week’s policy decision. Across the Atlantic, the ECB delivered a widely expected 25bp rate hike as Christine Lagarde warned that energy prices are increasing upside risks to inflation. Meanwhile, Donald Trump floated the idea of $5’000 cheques for American adults – a proposal that could potentially cost more than $1 trillion – just as concerns over US debt and fiscal discipline intensify. Treasury buybacks failed to calm the bond market, with the US 10-year yield flirting with 5%. One bright spot came from Oracle, where strong cloud growth and better-than-expected cash flow offered some relief to leveraged fears, but Nasdaq is trailing behind peers this morning, and the rest is not looking brilliant, either... Listen to find out more! 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 clients. 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.
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  Bitcoin slowing down due to quantum fears? | Crypto Talk 10.09.2026 7min

  Is this another step before a leg up or an actual quantum scare? 00:00 Intro 00:27 Disclaimer 00:31 Preview 00:41 Bitcoin 03:43 Ethereum 05:40 Solana 07:07 Subscribe & Good bye #crypto #cryptonews #cryptotrading #swissquote _____ 👉 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
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  Who is The House? 10.09.2026 10min

  Rising oil prices continue to fuel inflation fears, pushing global bond yields higher and putting pressure on equities. Even the US Treasury’s announcement to triple the size of today’s 10- to 20-year bond buyback has failed to calm the long end of the yield curve. Scott Bessent says he is “the house now”, but markets are clearly not playing along. And there is a delicious historical irony. Back in 1992, Bessent was on the other side of the table, working with George Soros as markets forced Britain out of the ERM on Black Wednesday. The lesson then? Fighting fundamentals can get very expensive. Meanwhile, the ECB is preparing another 25bp rate hike as Europe faces a renewed energy-driven inflation shock. Higher rates, higher oil prices and higher yields are testing policymakers and investors alike. So, who really is the house now, and what’s at stake? Listen to find out more! 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 clients. 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.
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  Brent near $100pb weighs on sentiment 10.09.2026 10min

  Brent crude is approaching the psychological $100pb mark as geopolitical tensions and supply disruptions keep energy markets on edge. Falling global oil reserves, disruptions around the Strait of Hormuz and a potential recovery in Chinese crude demand could add further upside pressure to prices. Higher oil and gas prices are also reviving inflation concerns, pushing bond yields higher and complicating the outlook for central banks. Meanwhile, technology stocks continue to resist the broader risk-off mood, supported by fresh AI developments and major new partnerships. But the AI story has another side: massive capital spending, rising borrowing requirements, leveraged balance sheets and uncertain returns. Listen to find out more! 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 clients. 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.
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  Yen carry unwind risks are back! 08.09.2026 11min

  Markets kicked off the week on a mixed note. Asian tech stocks followed Wall Street higher on renewed excitement around OpenAI and the race toward AGI, while European equities struggled under the weight of rising energy prices, weak German industrial production and expectations of an ECB rate hike. The major focus however was the sharp rise in the Japanese yen and the rising risk of a carry unwind. Years of cheap Japanese funding encouraged investors to borrow in yen and pile into higher-yielding assets, pushing classic carry pairs such as AUD/JPY to extreme levels. But today, with the Bank of Japan potentially turning more hawkish, those trades could become increasingly vulnerable. Listen to find out more! 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 clients. 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.
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  Strong US Jobs, rising oil weigh on sentiment; tech spared… for now 07.09.2026 10min

  Strong US jobs data, rising oil prices and higher Treasury yields are increasing pressure on global markets — but tech stocks don’t seem to care. The latest US employment report strengthened expectations that the Federal Reserve could raise rates in September, while escalating Middle East tensions keep crude oil prices elevated and inflation risks alive. Yet AI enthusiasm continues to support tech valuations. OpenAI’s latest model launch boosted sentiment across the sector, with the rally spreading to Asian chipmakers and technology stocks. Meanwhile, bond markets remain under pressure as the US Treasury prepares bigger buybacks and some of the world’s largest institutional investors reconsider their sovereign bond allocations. This week brings another series of important tests: US inflation data, a potential 25bp ECB rate hike, and earnings from Oracle and Adobe that could reveal whether the AI boom is translating into stronger revenues and profits beyond the chipmakers. Listen to find out more! 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 clients. 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.
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  If inflation won’t cool, jobs must 04.09.2026 9min

  Markets are looking for relief as rising oil prices, sticky inflation and mounting debt keep global bond yields under pressure. Attention now turns to the US jobs report. A softer-than-expected print — ideally accompanied by softer wage growth — could give Fed doves more room, pull yields and the dollar lower, and support equity valuations. But strong jobs data could reinforce inflation fears and keep borrowing costs elevated. Meanwhile, hawkish policy expectations are building across major central banks, from the Fed to the BoJ, while elevated energy prices are creating very different winners and losers across global markets. Energy-heavy indices may provide some diversification, while rate-sensitive technology stocks face growing pressure from higher financing costs. There is no magic resolution. Markets need softer yields — and ideally softer inflation. If inflation won’t cooperate, weaker jobs could do the trick, even if that’s the cure nobody wants. Listen to find out more! 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 clients. 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.