Who really believes in the Biden economy? No one of course.
It was just a matter of time before the wheels came off. We don’t know if this is the big one, but we do know the big one is coming.
The resurgence of Covid is stoking a risk-off mood as investors consider whether new lockdown restrictions will sap the economic rebound and reverse an equity rally that had driven stocks to record highs, according to BBG. Plunging Treasury yields are a signal of cracks in the global recovery, putting the onus back on monetary and fiscal authorities to support ailing economies even as inflation remains elevated, reported Zero Hedge.