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: The US equity market tried to hold on to its recent gains despite the lack of progress on US stimulus talks, but the futures stumbled badly this morning on the news that US President Trump and his wife both tested positive for Covid-19 after traveling with an aide that later tested positive. The US dollar firmed slightly overnight and then further on the Trump news.
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