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: US stocks continued their steep descent yesterday, with the Nasdaq 100 suffering nearly a five percent drop. The broader market fared rather better, but still suffered an ugly day, while European equities have managed so far to trade within the tight range of the last two months. Elsewhere, oil prices went into a nosedive and the USD and JPY have risen sharply on save haven demand.
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Economic Calendar Highlights for today (times GMT)
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