Rebalancing Versus The Second Wave

(1) Throwing caution to the wind? (2) The second wave is the big risk ahead for the economy that could stall stock market rally. (3) Lots of money in cash and bonds available to rebalance into stocks. (4) On the same page: Savita’s story doesn’t conflict with our story. (5) After mad dash for cash, individuals are buying bond funds but still selling stock funds. (6) Institutional investors are natural-born rebalancers. (7) Record amount of liquid assets earning nothing. (8) Central bankers are natural-born buyers of bonds, enabling investors to rebalance into stocks. (9) Comparative epidemiology: 2020 vs 2009. (10) Waiting for a vaccine.