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: Risk sentiment pieced together a bounce yesterday after the broad US equity market posted new lows. The rally partially sputtered in the late US session, but sentiment brightened again overnight in Asia as the US dollar rally eased. Still, concerns are growing that the economic resurgence may be slowing in Europe and the US in particular without new stimulus measures.
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