Macro Morning

By Chris BeckerĀ 

Stimulus packages are pumping air into the carcass that is the dead cat like a bagpipe, with Wall Street rallying on hopes that the cheques from Congress will save the next quarterly earnings bell. The fact that initial jobless claims came in at over 3 million was swept under the rug, as were the growing piles of dead bodies in tent-city morgues just down the road in NY. Interestingly, the daily White House COVID-19 press conference is being held after the close, which has been in the past a great entry point for short sellers.

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