What now after the "biblical vol reset"?

What now after the "biblical vol reset"?

From Saxo Market Call by SaxoStrats

April 16, 2026 · 22 min · Episode 1389

About this episode

The episode discusses the US market's remarkable comeback and the implications of reduced volatility amidst high oil prices and an upcoming earnings season.

Today, a look at the US market completing one of its most remarkable comebacks ever as it ramped off recently lows to hit new all time highs in such quick order, even as high oil prices linger. We note the types of names that advanced and the lack of market breadth, wondering how the market will develop from here now that volatility has been crushed and with the heart of earnings season on tap over the next two weeks. Also, a look at the remaining questions over Iran, latest action in currencies and much more. Today's pod is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links discussed on today's podcast and our Chart of the Day can be found on the John J. Hardy substack (within two to four hours from the time of the podcast release). Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here. Please reach out to us at marketcall@saxobank.com for feedback and questions. Click here to open an account with Saxo. Intro music by AShamaluevMusic DISCLAIMERThis content is marketing material.Trading financial instruments carries risks. Always ensure that you understand these risks before trading. This material does not contain investment…

People in this episode

Host: John J. Hardy

Topics covered

  • US market
  • volatility
  • earnings season
  • oil prices
  • currencies
  • market breadth

Keywords

  • US market
  • volatility
  • earnings
  • oil prices
  • currencies
  • market breadth

Mentioned in this episode

Organizations: Saxo Bank A/S

Places: US, Iran

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