#8: What Does a COVID Second Wave Mean?

Welcome to the eighth edition of our podcast series: Talking Data, which offers timely insights into macro data and its impact on the economy and markets. Our podcast features Jim Bianco of Bianco Research.

In today’s installment, Jim will provide his insight on the second wave of COVID.

Topics Include:
• Europe is having a second wave. What does it mean?
- How bad is it and what are the changes?
- Will/can it spread to the US?

• Will a second wave stall financial markets/the economy?
- Valuations are high. The market needs faster growth that justify current levels.
- The problem is the economy is stalling and a second wave will pull back economic activity even further.

• Will any of this move interest rates?
- Higher rates implied a return on inflation and lower rates imply a serious economic downturn. Either is a problem for risk assets.

• Will a "medical bailout" save us?
- The game changer is a vaccine or treatment. But when?
- goodjudgement.io says "not before July 1."

For more information please contact Gus Handler at gus.handler@arborresearch.com