All Day

I was too busy to pay much attention to the market action today. It’s now about the close for US markets, and clearly it’s been a risk-on day. Copper is up quite strongly, gold flat, yields all up, all equity markets up (to a good first approximation). All the Robin Hood favourites seem to be up, especially $TSLA but also Carnival ($CCL), up about 11%! One day the wheels will come off, but obviously today was not the day. Seemingly, the driver is vaccine hopes. Cases seem to keep going up in some US states. Mask wearing is now becoming mandatory in more places. Some more criticism of the help targetted by the UK chancellor at hospitality, but mainly from sectors (like manufacturing) which didn’t get so much help. Housebuilders in UK have done very well recently.