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 broad US stock market outperformed the more concentrated Nasdaq 100 on a strong rally day, a rare development that could suggest a shifting focus in market breadth. Europe is trying to shift to a more positive footing after the euro weakened in recent days and as major indices in Europe like the DAX are back threatening the top of the range. Dollar strength drives a second day of broad commodity weakness with oil and gold both trading lower.
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Economic Calendar Highlights for today (times GMT)
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