If markets like divided government, why have equities cheered after the Georgia Senate votes gave the narrow control of the Senate to the Democrats?
“We have very conservative earnings estimates. Part of that is because we don’t know what the tax regime is going to look like."
Their renewed interest reflects confidence in the earnings power of a group whose resilience has been underlined during the Covid-19 pandemic.
DoubleLine called the market bottom. Goldman, Cannacord and others were quick to warn that the pre-COVID top had been reached.