Tale of Two Markets, Updates: EIF, PBH, LIF, XTR, Debentures
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Markets are prospective or forward looking, building in expectations for the future into today's prices. Markets also tend to over and under shoot when emotions takeover.
While there have been viral outbreaks in the past, they have not been global like the COVID situation. It is as intense as anything experienced by most all investors in their lifetime. Dealing with a rampant global health threat is something new.
In response to the pandemic, public sector debt is rising rapidly. This flood of liquidity is sending some market sectors to consecutive new highs, others segments are struggling as capital exits. The big tech names are hitting new highs, gold is rising, so is most anything even perceived as "green". The financials and most sectors in real estate, with the exception of apartments are on the outs.
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