‘Madness,’ The Dollar And An ‘Omnipresent’ Threat

"Madness." That's how one analyst described last week's post-Thanksgiving price action, which found global equities careening lower with bond yields and crude amid acute concerns over the new COVID variant which, by Monday, had surfaced in nations all over the world. As the new week dawned, markets were inclined to a more measured approach. "Measured" doesn't necessarily preclude additional losses, of course. But the panic had subsided. Temporarily, at least. Stocks rose and bonds fell. "We s