There’s probably so much more pain to come as when the notional growth devastation number totals are projected, they still may fall well short of the actual sum of all the losses to Global, European, and US GDP. So, stock market bulls and those who are typically the perma bids like pension funds are nervous about stepping back in too early.
Given the economic impacts are yet to define an upper bound in Europe or the US, and with no vaccine in sight, it suggests, any positive bounce in any risk asset should be treated with caution.
Is cash, King?? Yes !!!! except for gold as it’s starting to light up again (see below)
The US Aid delay
While other governments around the world pour money into fiscal spending, the US can’t get over its political squabbling. Democrats claim the money will just go to corporates, and hence they can’t support it. I think there’s a significant number waiting to happen anyway, and it’s not the only reason the market is down. But as far as…