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: Markets are trading sideways to slightly lower as multiple issues are dragging on what has mostly been an optimistic backdrop: the Brexit situation remains uncertain, with the UK and EU leaders set for in person emergency talks in Brussels, Poland and Hungary continue to hold out against approving the EU budget, and the US stimulus package meant to be passed yesterday is being held up.
What is our trading focus?
What is going on?
What we are watching next?
Earnings releases expected this week. It is a thin week on earnings as we are outside the earnings season but earnings from Lululemon Athletica and Adobe are worth watching as both companies are priced for perfection and thus carry an intrinsic skew for a negative surprise.
Economic Calendar Highlights for today (times GMT)
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