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THE HEISENBERG writes: Given the increasingly glaring disconnect between markets and the real world, I suppose it’s only fitting that US equities managed to hold onto gains Wednesday despite chaos at the Capitol. The day began with Democrats claiming victory in Georgia, where Raphael Warnock and Jon Ossoff managed to pull off what, right...
THE HEISENBERG writes: Right, but when? That’s the question the whole world wants answered when it comes to the vaccination push. The last several weeks have delivered plenty in the way of encouraging data on Covid-19 vaccines, contributing to a powerful pro-cyclical rotation across assets, even as the US long-end refuses to join in on...
THE HEISENBERG writes: The following short bit will come as no surprise to regular readers, and as such, I hesitated to give it separate treatment. But, I decided to go ahead with it as a kind of “quick hitter,” mostly because it serves as a useful addendum to last week’s piece documenting...