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 the fresh slide in the US equity market and concerns that stimulus wont be forthcoming before the election, have a look at FX stories driving GBP volatility and AUD weakness, and focus on European sovereign debt, as Italian bonds have been the trade of the year for more liquid sovereign bonds and where the longest BTPs could be set for further outperformance if the EU is indeed having its "Hamilton moment".
Listen to today’s podcast and have a look at today’s slide deck.
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