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Real Vision: Finance & Investing

2021 Kickoff: Looking Through the Headlines with Mike Green: DB - Jan4, 2020

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.11.1K Ratings

🗓️ 4 January 2021

⏱️ 37 minutes

🧾️ Download transcript

Summary

Mike Green kicks off the Real Vision Daily Briefing in 2021 with Real Vision’s Max Wiethe. Although markets sold off and volatility rose sharply, Mike was not particularly surprised by today’s price action and attributes today’s selloff to market participants who waited until 2021 to take profits rather than the runoff risks that many attributed to this. He also makes the case for markets building towards a substantial correction at some point in 2021 and gives his outlook for the Georgia runoff and other important events on the horizon. In the intro section, Haley Draznin analyzes recent price action in bitcoin and equity markets. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Hello everyone. Welcome to the Real Vision Daily Briefing. It's Monday, January 4th at 4 PM just after market close here in New York. I'm joined by Mike

0:15.4

Green of Logic at Capital today. Before I talk with Mike, let's kick it over to

0:19.1

Haley for today's stories. Hey Max, happy new year. Investors are gearing up for a turbo charge 2021.

0:26.0

Want evidence? Just look at the price of Bitcoin.

0:29.0

Only a few weeks ago it smashed through that 20,000 mark. This weekend it soared above 30,000

0:35.9

for the first time ever. After setting a new record above 34,000 on Sunday

0:41.3

just yesterday, prices drop sharply to around 27,000 before recovering to

0:47.8

around 31,000 on Monday. But after closing out 2020 with gains of more than 300%, a growing number of traders

0:57.4

searching for yield in a low interest rate environment are giving Bitcoin another look. This hunt for returns and unbridled optimism

1:06.5

about the future isn't just powering Bitcoin's ascent. Investors are bringing that same energy into the 2021 capital markets.

1:15.8

Today we saw however stocks tumbled on the first trading day of the year,

1:20.3

the Dow, S&P 500, and NASDAQ were all down because of this grim pandemic outlook with the

1:27.3

spread of the new COVID-19 variants. Hospitalizations in the U.S. jumped to a record high on Sunday and governments across

1:36.4

Europe are extending lockdowns to try to slow the spread of the virus.

1:40.8

Also traders are jittery ahead of tomorrow's runoff elections in Georgia

1:46.0

in the US which could determine whether Democrats have control of Congress to push

1:52.1

President-elect Joe Biden's agenda.

1:55.0

Among individual stocks, if we look at it a little closer,

1:58.5

Coca-Cola shares fell.

2:00.5

The pandemic will of course continue to limit major public events in early 2021 and dining at restaurants

2:07.8

Potentially hurting demand for products like Coca Cola's beverages. Airline stocks, another group that has been hit

2:15.2

hard by the pandemic, also fell. We saw American Airlines and Delta, both

...

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