2021 And The ‘6 P’s’

2021 And The ‘6 P’s’

It'll be "tough" for equities to keep hitting new highs now that volatility, spreads, and yields have all collapsed, BofA's Michael Hartnett wrote Thursday evening. Following March's pandemic dramatics, rates vol, credit spreads, and the VIX have retraced between three-quarters and 100% of their panic moves, making it more difficult for vol and spread compression to nudge stocks higher. This "hints at 'peak policy' stimulus," Hartnett said. Indeed, the relentless trek higher for equities s
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7 thoughts on “2021 And The ‘6 P’s’

  1. Buy-the-rip. I like that.

    TBH, what a debt ratio at 266% says is that our classical/orthodox economic models aren’t quite correct.

    Someone said “What’s correct about MMT is old, and what’s new isn’t correct”. Fair enough. We ‘knew’ that the only hard limit to money-printing government spending is inflation. Yet, somehow, politicians and even the educated public don’t seem to know that.

    But, I have to say, would it not be saner to have higher taxes, higher interest rates and lower debt load? It sure would look more ‘conservative’ to me…

  2. Nobody really talks about it … but will we reach a point where the hospitals are absolutely saturated with Covid and the usual ailments and the doctors and nurses are burnt out and the quality of care starts to suffer ending up with more deaths and fewer staff to care for the ever-increasing patient load?? Thank God we’ve turned the corner.

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