We've largely ignored geo-political risks, ignored a slowdown in European growth, ignored the fact that Germany is deteriorating fast while increasing the amount of risk we take. That's the view of Saxo Bank's Steen Jakobsen who exclaims in this brief clip that "the market is so one sided and complacent," he feels a need to scream. Steen is urging traders and investors to take a serious reality check, pointing out that this decline is illustrated perfectly well on fixed income markets.
German yields have fallen to record lows and there's now a move towards safe haven assets.
In recent weeks, we've seen an increase in global risks, not least with Russia and Ukraine and in the Middle East.
On Thursday, President Obama authorized the use of airstrikes over Iraq.
Steen tells investors not to panic.