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
Summary: Stock markets retreated in Asia on Friday along with yields, while the dollar climbed on worries that President-elect Joe Biden's could face stiff resistance in Congress over his $1.9 trillion Covid-19 relief plan. Breakeven yields and gold both climbed after Fed chair Powell said policy makers won't raise interest rates unless they see troubling signs of inflation. All this while the pandemic rages on with the global death toll reaching 2 million.
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