As expected, Monday’s encouraging vaccine news from Moderna prompted outperformance from value, small-caps, and other equities expressions synonymous with reflation optimism and the reopening narrative.
Day: November 16, 2020
Goldman On The Dollar: Depreciation To Extend Into 2021 – And ‘Possibly Well Beyond’
The broad, trade-weighted dollar will decline 6% over the next 12 months, Goldman says, in the bank’s 2021 global FX outlook. Part of the thesis
Morgan Stanley: ‘Keep The Faith’ After ‘Super-Charged’ Global Economic ‘Take-Off’
“Keep the faith, trust the recovery” and buy stocks. That, in a nutshell, is the message from Morgan Stanley, where I think it’s fair to
Vaccine Push Faces Test In America, Where ‘Freedom’ Is ‘The Gateway Drug To Pseudoscience’
Over the weekend, Ron Klain, incoming White House chief of staff, underscored a crucial point about vaccines as a solution to the pandemic. In remarks
Rotation On? Moderna Vaccine News May Presage Encore For Historic Factor Reversal
The reaction to Moderna’s encouraging COVID-19 vaccine data, released exactly a week after a similarly upbeat readout from Pfizer, was predictable. Treasurys reversed gains, the
‘A Pivotal Moment’
Global equities found quite a bit to like in trade news and economic data out of Asia on Monday. Stocks were buoyant after activity data
