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 Commodity Strategy
Summary: Equity futures advanced in Asia overnight, extending a rally that has taken the S&P 500 within striking distance of its all-time high set in February. Technology stocks meanwhile are playing catch up after ending lower on Monday in response to simmering U.S. China tensions that may impact the sector. The dollar trades a tad softer while the risk-on sentiment and higher real yields have pushed gold back below the psychological important $2000 level.
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