What Is the Market Expecting? — The Pandemic Isn’t Over Yet
Dear Reader, This week was all about the end of the pandemic. Which hasn’t happened yet. But markets, being forward-looking, suddenly decided to price in a vaccine that works and a return to normality. Stocks that boomed thanks to COVID-19 suddenly got smacked. Stocks that languished during lockdowns boomed. Zoom crumbled, airlines went ballistic, for […]