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: Yesterday and overnight saw price action in US equities remaining near the all-time highs, while action in Europe has been a bit more downbeat, likely due to the strong euro. Brent crude rallied towards $50/b after OPEC+ compromise while copper jumped on fears for a post-pandemic supply shortage. Today we look forward to the November US jobs data after the ISM services data yesterday suggested the US service sector continued to expand in November despite the Covid-19 resurgence.
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Economic Calendar Highlights for today (times GMT)
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