July 21, 2021
Good morning,
Let’s stretch our market memories and go all the way back to … Monday morning. Yes, it feels like a long time ago that panic was running through global markets over the delta variant and the consequential slowdown of global economic growth. I believe yesterday’s market message as all of Monday’s selloff was neatly retraced, was that there’s still massive liquidity sloshing around and that liquidity trumps everything for now. Delta variant, surprisingly low bond yields possibly suggesting a peak in economic growth, historically high valuations … who cares. Well, not the equity market right now.
And we stay as long as the Tape says it is okay to.
A REMINDER – TOMORROW
The Robertson Stephens 2021 Mid Year Economic and Investment Outlook Webinar
Thursday, July 22, 2021 4:00 PM-5:00 PM (UTC-05:00) Eastern Time (US & Canada).
Please register at https://go.rscapital.com/e/889203/baRDfza6raMDZtlhFbwpRcISQ67QjA/djhz69/61952836?h=1wxzqV1PK88mbwSAILhqEteY5McZ-dAeinCmGLeXB4M
Be well,
Mike