Visions of a Vaccinated World: The Trajectory of the Market Rotation: DB- Dec 8, 2020

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 9 December 2020

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Real Vision senior editor Ash Bennington welcomes Tony Greer, editor of the Morning Navigator, to delve into the day’s trading and explore where markets are currently at. With Joe Biden becoming President-Elect and the race for a vaccine coming closer to the end, markets have changed their tune, and Greer explains how the rotation trade is continuing to be sustained due to the markets’ vision of a vaccinated world. Greer also considers how the virtualization of society due to the pandemic will have enduring effects in the way people live and work and what that implies for new market trends such as the recent abundance of tech IPOs. Greer shares his thoughts on why the Fed will continue to only address the recovery through asset price inflation, and he discusses what this means for various asset classes. In the intro, Real Vision’s Haley Draznin explores the K-shaped recovery in the housing market. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You hear that? That's the sound of your energy use going in reverse.
0:07.0	Rewinding, reducing.
0:14.0	We're Ovo, an energy company that wants you to use less energy.
0:19.0	Some may see that is a bit backwards.
0:23.6	But we like to see things differently.
0:26.0	Join us and see energy from a different angle.
0:29.6	Ove. And Welcome to Real Vision.
0:43.0	It's Tuesday, December 8, around 2.30 PM Eastern time.
0:48.0	This is the Real Vision Daily Briefing.
0:50.0	I'm Ash Bennington, joined shortly by Tony Greer but first with the day's stories
0:56.3	Haley Drasen. Hi Ash the markets were reacting Tuesday to hopeful vaccine and
1:01.5	stimulus news especially with the UK starting to distribute the Pfizer
1:05.9	Vaccine.
1:06.9	We've been talking a lot about the dichotomy between the real economy and the markets,
1:11.3	and we're seeing it firsthand this month in December with record high so far
1:15.4	despite a week jobs report for the month of November. The US has added back
1:20.5	around 56% of the jobs lost from the spring, but 9.8 million jobs still have not been recovered,
1:28.0	and the losses at this point are on par with the worst point in the Great Recession.
1:33.0	So I wanted to highlight the K-shaped recovery in the housing market
1:37.0	because frankly, I don't think it's being covered enough and it's so clear.
1:41.0	Moody's analytics found that 12 million Americans are behind on
1:44.8	rents and utilities and they'll owe an average of $5,800 by early January.
	...

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