Stimulus negotiations have stalled in Congress and questions remain if the second stimulus check will be tied to annual budget negotiations in September. The major stock market indices continue making all time highs and hovering near record levels. It appears as the market is priced for an economic V shaped recovery and it’s difficult to see many additional catalysts to add on this rally.
Inflation expectations are beginning to be realized for the first time in a while and investors are cycling out of longer dated maturity bonds. It’s extremely difficult to forecast this market, while traditional indicators are flashing caution. Alternative assets such as gold are reaching all time highs as well, and investors are trying to hedge risk against the falling US dollar.
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