Market Watch Weekly | September 18th, 2020 | Everyone's Doing ZIRP. And No, It's Not A TikTok Dance.
Erik Dekker - Sep 18, 2020
We continue to believe the recent pullback is consistent with stairstep playbook that should carry the markets higher over the next 6-12 months.
North American markets were mixed on the week as some major bechmarks snapped a losing streak of 2-weeks. As we wrote to in last week’s edition, we do not view September’s consolidation as a sign that this rally has come to an end, but it does highlight our view that we have reached a bumpier stage in the economic recovery, prompting occasional downward swings in stocks even as the overall rally continues. Despite the unprecedented, unpredictable and unruly path of the COVID-19 pandemic, hisotory has shown that there are stages to an economic recovery which can be defined by three distinct periods...
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