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: Intermarket analysis is a conundrum as both safe-haven and risky assets are bid into today’s triple/quad “witching”. The USD rally never really got going and the next test is next week’s FOMC meeting and whether the market has over-anticipated the Fed’s dovish tilt.