The market's so complacent, I want to scream: Steen Jakobsen, Chief Economist at Saxo Bank. Saxo Bank Chief Economist and CIO Steen Jakobsen urges traders and...

The market's so complacent, I want to scream: Steen Jakobsen, Chief Economist at Saxo Bank. Saxo Bank Chief Economist and CIO Steen Jakobsen urges traders and investors to take a serious reality check, pointing out markets have ignored geopolitical risks, ignored the significant slowdown in European growth and at the same time have increased the amount of risk taken. Unfortunately I'm old enough to have seen this before, and it always ends badly. The complacency is simply that the only game in town is equity, and that geopolitical risks don't matter, and economics doesn't matter, Jakobsen laments. Jakobsen says the German economy has been slowing down the past two months, with 10 year yields have fallen to record lows, down 90 basis points since the beginning of the year which reflects slowdown in the Eurozone and the move towards safe haven fixed income assets. (VIEW LINK)