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: US markets continued to recover with signs of frothy speculation returning in force in options for bubble stocks like Tesla, while European equities remain thoroughly stuck in a rut. In FX, the Chinese yuan strength has slowed its progress while the JPY is showing signs of revving to life as Japan has its first new Prime Minister in almost eight years.
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