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 Equity Strategy
Summary: It seems more and more likely that the world is in a state of "false stability” in the wake of forward guidance accommodation from central banks, most notably the Fed, and stimulus from China. Against this backdrop, a downwards trending KOSPI in South Korea, and Uber's inauspicious start, seem ominous developments.