5.27.20 COVID-19 In Charts
The S&P 500 Index flirted with closing above 3,000 yesterday, even as much of the economic data is some of the worst we’ve ever seen in our lifetimes. We are often asked how this is possible. The reality is the double backstop of historic fiscal and monetary policy combined with optimism over a potential vaccine coming before the end of 2020 has created a surge of market confidence, leading to a massive equity rally.
At the same time, much of the daily data regarding COVID-19 in the US continues to trend lower. “Yes, we have the same worries as everyone else regarding a spike in new cases as social distancing is r... Read more