We Should Be So Lucky

"Sometimes you have to make them feel the heat if they don’t see the light", Mark Meadows told the press on Sunday, ahead of the FDA's decision to approve convalescent plasma treatment for some COVID-19 patients. He was attempting to explain a Saturday tweet from Donald Trump, who, in a cringeworthy moment born of irritation, accused the FDA of being “deep state” operatives engaged in a deliberate attempt to slow-walk coronavirus treatments. "This president is about cutting red tape. That’s what the tweet was all about", Meadows said, in an interview with ABC. He also claimed the emergency authorization for plasma treatment (which The White House called "a major therapeutic breakthrough"), should have been made "weeks ago". It's not clear whether this is material for markets. "[It's] not the COVID-19 cure the world is hoping for, but it is another positive step to help patient recovery time and get people back on their feet quicker", AxiCorp's Stephen Innes remarked. US equities are trading on a ~23 multiple and the next material move higher or lower is likely to be catalyzed by vaccine news, a stimulus breakthrough, election developments, or some combination of the thr
Subscribe or log in to read the rest of this content.

4 comments on “We Should Be So Lucky

  1. runamok says:

    “…but investors have no interest in betting against technological ingenuity” has got to translate into productivity improvements if we’re ever going to see a measly 2% real growth rate ever again. Oh, jeez, I forgot the debt load and what this does to real growth. Never mind.

  2. radioman says:

    Sorry, on your first graph, what is the 5Y5Y Inflation Swap?

    • radioman says:

      OK, I got off my lazy ass and looked it up:

      5 Year 5 Year Forward Inflation Expectation:
      Measures the expected inflation rate (on average) over the five-year period that begins five years from today. The current 5 Year 5 Year inflation expectation rate as of August 21, 2020 is 1.76.

  3. I like the picture composition.

Leave a Reply to radioman Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Skip to toolbar