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
FX Trader, Loonieviews.net
Summary: US equity markets shrugged off a major ADP jobs disappointment after the release showed 129,000 new positions rather than the 170,000 forecasted. Meanwhile, there may be a looming instability threat on the horizon for CAD as Prime Minister Trudeau's government deals with a messy corruption scandal.