Monday Morning Minutes: Market Recap for the week ending February 19, 2021
DoubleLine’s Jeﬀ Mayberry and Samuel Lau kick oﬀ their review of the week of Feb. 15-19 with a look back a year ago at the S&P 500 high of 3,386 that preceded the volatility of the COVID-19 era, which is
now showing more signs of recovery. For the just-concluded week, analysts seem to be buying into the optimism around the retail sales report while IG Land continues to lag aﬅer a strong 2020 (“The last shall
be ﬁrst, and then the ﬁrst shall be last”). Jeﬀ and Sam double up on reader questions about short-term bond performance and pre-indicators of bond activity (starts at 22:16). Jeﬀ explains his use of the copper-gold ratio, but they note that the Fed’s bond purchases and bitcoin’s arrival as a safe-haven rival to gold could be impacting readings.
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