https://finance.yahoo.com/news/jpmorgan-math-shows-why-u-182018867.html/Think the sizzling U.S. stock rally is excessive in an economy frozen by shutdowns? From one perspective, it’s just getting started.
Giant piles of cash sloshing around the financial system means there’s substantial ammunition yet to push risk assets higher. JPMorgan Chase & Co., meanwhile, sees potential for billions to flow into equities at the expense of bonds to rebalance portfolios. Money-market funds have lured $1.2 trillion this year, while fund managers with $591 billion overall are holding cash at levels rarely seen in history, according to Bank of America Corp.
All that shows how much firepower investors have to support the market at a time when stock prices look unhinged from fundamentals like corporate profits, and trade frictions between China and the U.S. return to the forefront./
they were talking about deaths/covid19 destructions and massive downturns/double dip few wks ago
how times have change.
