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
Summary: Today we highlight the incredible surge in equity call option trading in the US this year and especially in recent weeks and ponder whether the underlying market structure risks a significant market dislocation event on any exogenous shock - i.e., a proper crash. We also highlight important equity, commodity and equity stories while encouraging everyone to keep an eye on US yields as a potential gamechanger if yields continue to rise. Today with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Listen to today’s podcast and have a look at today’s slide deck.
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