Greetings,
United States: With more employees working from home, companies are increasingly trying to sublease office space (flooding the market). Despite the rally in office REITs (see chart), this sector will continue to struggle.
Eurozone: Greek short-term bond yields have moved into negative territory.
China: China’s tech shares have reversed the recent rally as Beijing tries to rein in the industry.
Commodities: US corn stockpiles are declining rapidly.
Corn futures continue to climb.
Rates: After the vaccine announcement, the markets are starting to doubt the Fed’s patience in holding rates near zero for a long period. Here is the change in the market-implied fed funds rate trajectory.
Food For Thought: Top US online retailers:
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Edited by Devon Lall
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