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: An attempt to get a broader USD rally going yesterday was quickly swatted away yesterday on the release of weak US Markit PMI surveys, with other recent trends showing signs of weakening today as well.