US stocks appear to have reached a mini cyclical fatigue point, but the pace of vaccinations remains the key driver for risk markets
US stock markets kick off the Biden era fashionably in vouge by hitting record highs, but prompt oil prices look vulnerable to profit-taking
For the incoming Biden administration, it’s vaccination policy rollouts – not timing of taxation – that should resonate with investors this year.
Smoking guns and risk reversal make for a scatterbrained view for the upcoming week
Currency markets breathe easier and oil prices are lifting higher, but stocks are weaker and US yields worries linger.
Investors look past the political uglies to sunny days ahead as expectations build for additional, and perhaps larger, fiscal stimulus.