The short-term Covid gloom vs. long-term conviction that science prevails
Today's slide deck: https://bit.ly/3eTtWdc - Today we look at the reversal in the momentum vs. value earthquake that unfolded at the beginning of the week, and try to judge the effects of a another short-term policy response to the Covid-19 resurgence, especially the leading and lagging factors over the longer term into 2021, once science and a vaccine roll-out gets ahead of the pandemic. Also a look at Pinduoduo and Disney earnings, thoughts on the US dollar and US yields, gold, oil and more. Today with Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.