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 note the acceleration in the equity market beyond the trend established since the spring and look back at a couple of prior episodes in which this quickly resolved into a much more volatile and two-way market. We also look at fresh pain in Chinese equities, the US treasury reaction function around the US economic data this week, developments in EU sovereign bonds, energy, metals and FX markets and much more. Today's pod features Althea Spinozzi on fixed income, 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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