The U.S. debt ceiling has been all the chatter in headlines lately. With news outlets leveraging every political angle of the $31.4 trillion (about $97,000 per person in the US) debt story, we have heard countless warnings of a fiscal crisis on the horizon if left unresolved.
Commentary
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Much has been made of the rise and power of a new clan of retail investors. This new type of ‘investor’ has been bred by the pandemic and shutdowns. They have lots of time and extra cash on hand courtesy of government stimulus checks and canceled vacations and activities. When you combine those factors with low to no commission trades, easily accessible trading apps, and a rising stock market, you have all the necessary ingredients for a classic bubble in select stocks.
The election of 2020 is currently being advertised as one of the most historic elections. However, from our perspective, we see this election year as having many of the same attributes as past ones.
We believe it is important to understand the underlying circumstances affecting the Markets—and how we are working through them, especially during these times of uncertainty, where the latest headlines could be contributing to our economic outlook.
We believe it is important to understand the underlying circumstances affecting the Markets—and how we are working through them, especially during these times of uncertainty, where the latest headlines could be contributing to our economic outlook.