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
Chief Economist & CIO
Summary: The US equity market rallied strongly yesterday, perhaps in part as US President Trump favors a new stimulus check as part of a new large spending bill. Markets were roiled briefly overnight by comments from trade advisor Peter Navarro on the status of the US-China trade deal, but the move was erased on the claim that the comments were taken out of context. Elsewhere, gold remains perched near key breakout levels as the USD wilted.
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