The economy’s suspiciously strong growth is understated if anything. Deleveraging is the real concern.
Consumers are primed to spend money in a way they haven’t been for a generation.
How far lower rates justify higher stock valuations isn’t straightforward, though.
The pandemic has shown just how much predictions made 12 months in advance are hostages to fortune.
Vaccine Monday’s violent moves will need further macro support for us to call this a true rotation.
A divided government may be good for markets when things are going well, but this is a situation that demands action.
The case for herd immunity remains unproven.
If there is ever such a thing, the retracement of U.S. mega-cap tech stocks fits the description.
The bubble this time is in the monopoly profits of the leading tech companies, rather than their valuations.
Several “how to” questions are in play regarding the development and distribution of a Covid-19 vaccine.
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