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by incompatible
2280 days ago
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The US stock market always seems wildly optimistic. It was still near its all-time highs while it was already seeming quite likely that the virus would be a serious problem. The Australian stock market is now at 2013 levels. On the other hand, once there's a sign that the end of the pandemic may be in sight, I expect that the US markets will overreact on the side of optimism, regardless of the actual economic damage that has been done. Bear in mind that governments are adding to the vast stockpile of paper "wealth" that's already out there, and that tends to cause asset inflation. |
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