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Jakobsen: Two wasted years thanks to January 2016

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Three weeks into 2016, and any gains from 2014 and 2015 have been wiped out. So says Saxo's Chief Economist, Steen Jakobsen. Many are pointing the finger at China, but he says its economic slowdown is not new news. 

He feels the dragon is being used as a scapegoat. The root cause is the rising cost of money, thanks to US Federal Reserve policy over the rate hikes planned for this year. While Steen accepts that China is a focus, he also says oil and the price of money should be at the front of people's minds. All three are tied to the very strong US dollar, which he says is hurting global output.

Steen explains how he's trading this bear market.

And you can read more from Steen on Trading Floor here.