The models are broken
The market is trying to get back to the pre-Covid and pre-war times, but that model is broken. A new dawn is here and the financial world needs to adapt.
Steen Jakobsen,
Chief Investment Officer
Head of FX Strategy
Summary: Australia’s May employment report was widely declared a stinker, but looked mixed at worst from where we sit. Nonetheless, AUD is probing lower as RBA cut expectations rise anew.