MARKET VIEWS
Fiscal Policy And Sentiment Support Toppish Equity and Credit Markets
By Peter Checchini
30 July 2020
In this paper we discuss:
- Why we expect a U/W-shaped recovery for the economy and markets;
- The new form of liquidity trap we found ourselves in;
- What type of "fiscal dominance" we are experiencing at the moment;
- How risk-asset markets are not correctly pricing the coming explosion in defaults; and
- The market implications of all the above.
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Download PDF: R&RwC - Money Supply, Fiscal Policy and Asset Prices - July 2020
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