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: On top of a string of positive session, the US equity market actually accelerated its rally yesterday, with the mega-cap Nasdaq 100 index closing over 2% higher to a record high close, even as the broader market stumbled once again and small caps closed lower on the day. Today tells us to what degree the recent ramping higher in equities is driven by anticipation of an important speech from Fed Chair Powell.
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What is going on?
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Economic Calendar Highlights for today (times GMT)
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