Diminishing Returns And WAM Chatter Galore
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.
There was plenty to like in the Moderna readout, and equities were already pleased with weekend comments from Joe Biden's advisers who indicated the President-elect is not in favor of a sweeping national lockdown. Solid activity data out of China and a new regional trade pact also contributed to
“On the whole (which is just a euphemistic way of introducing a totally generic quotable that lacks even the appearance of nuance)…” TRH you are fun to read.
thanks. i liked that too
I read for the information but am enlightened by the literary mastery.
What is WAM?
Weighted average maturity–its a bond thing