Mike Wilson head of U.S. Strategy at Morgan Stanley thinks something has to give = either the risks to the recovery (COVID cases, election concerns, fiscal cliff) need to subside and the market broadens, or these risks will ultimately topple the winners, too.

He argues that current breadth is just unhealthy and therefore unsustainable = the most…[Read more]

Goldman Sachs: 2021 Vaccine Boost: While the uncertainty is elevated, our analysis suggests that the baseline outlook for vaccines is a positive one with significant vaccine distribution likely in the next 2-3 quarters and a likely sustained boost to growth next year. These findings support our above-consensus forecast for US and global GDP growth…[Read more]

Goldman Sachs expects the overall size of the next round of fiscal support to total $1.5 trillion, with approx $1 trillion due before year-end and they “continue to believe the odds are high that Congress will enact a fiscal package before leaving for August recess”