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Looking Through
Folks were rolling out the generic quotables Monday, as US markets were shuttered for the holiday, leaving everyone bereft of perfunctory color to cite. "Markets needed a breather or even a pull back to justify reflationary expectations," Medley's Ben Emons told Bloomberg.
Ok, sure. That's a contextless, amorphous, floating quote that works.
The narrative now seems to revolve around the notion that risk assets "need" to retreat after running up furiously into the inauguration, which will unfol
Luke Mogelson deserves a Pulitzer. He connects the dots for a conspiracy of insurrection. Good thing security has been enhanced Nationwide because extreme FOMO will result for the Cons.
As Woodstock was to the Libs the Capital Breach will be to the Cons. Another pointless American Myth.
Brokerage firms have to obtain employment status, annual income and net worth from individuals seeking to open a new account. Might be enlightening to ask firms — especially the Robin Hoods of the B/D world — to disclose their metrics here. It might be at least partially enlightening as to whether the stimulus checks were being invested in the market. Perhaps also they could disclose the number of accounts buying partial shares. Neither would be exact indicators, but perhaps useful in this argument.