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: Today we look at still strong markets as the US heads out for a long Thanksgiving holiday weekend and global equity markets eye their strongest monthly return in history. USD bears appear in good shape, but the price action is sluggish relative to the supportive backdrop for a weaker US dollar. Elsewhere, we look at oil prices and the forward price curve, Salesforce eyeing a possible Slack takeover, inflation in delivery costs, the sudden correction in Bitcoin overnight and more. Today with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
Listen to today’s podcast and have a look at today’s slide deck.
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