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The bond complex sold off sharply while U.S. equities advanced last week. The bond complex ran into headwinds because of a number of possible factors including better than expected economic data, inflation concerns, and supply. If COVID-19 data continues to improve, continued rotation out of bonds and technology may very well continue.
One surprising market observation is market participant’s lack of concern for the stimulus impasse. Stimulus implementation remains important in supporting the real economy. Market participants appear to be looking past the stimulus impasse anticipating that generous legislation will be passed.
In the coming week, market participants may consider focusing on COVID-19 data, economic data, and legislative efforts regarding stimulus as potential market moving data points.
Bookmark this COVID-19 site. https://rt.live
Best
Cory Haupt
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