The US is seeing a K-shaped rebound. Fed support meant the S&P 500 made new all-time highs last week. But 20% of US adults told the US Census they couldn’t afford to buy enough food to feed their children.
Wall Street investors missed the fact that Friday’s US jobs report misclassified up to 4.9 million workers as working, when they were actually jobless. But that’s what happens when you ignore the small print.
Volatility has spiked this month, as always happens when markets go through a period of major change. Time seems to speed up, as old certainties are discarded, and everyone tries to work out where we are headed next.
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