Global Markets Recap
Equities had a mighty strong finish Friday, and aside from a few meltdowns, they’ve been in a furious, epic rally since late March – one for the ages. Congress is open for business; markets love signs of generous fiscal spending after being invisible in this area for years. The Fed is simply not to be messed with. Even ardent bears have to recognize Jay Powell isn’t fooling around & may be more benevolent than Greenspan, Bernanke & Yellen combined – which may seem hyperbolic unless you look at the raw data. The world’s leading central bank will provide endless liquidity to global capital markets to tamp down volatility & spur investment. And if the S&P 500 triples by November, so be it.