“A Keynesian Beauty Contest — But With No Beauty”

Published on
December 4th, 2020
Duration
40 minutes

Reopening Fake Out Sectors, Positive Jobs Data Surprises, and Renewed Stimulus Hopes


“A Keynesian Beauty Contest — But With No Beauty”

Daily Briefing ·
Featuring Jack Farley, Ash Bennington, and Ed Harrison

Published on: December 4th, 2020 • Duration: 40 minutes

Real Vision senior editor Ash Bennington (“Cash Pennington”) hosts managing editor Ed Harrison to break down today’s dismal data on the state of the U.S. labor market. Ed and Ash put in context the non-farm payroll figures, released today, and contrast this dreadful print with the rally in U.S. equities. After reflecting on what these job numbers means for the yield curve and interest rate margins, Ed and Ash conduct an even-handed analysis of the worsening data on COVID-19 cases, deaths, and hospitalizations. In the intro, editor Jack Farley explores why the investors seem convinced that the adverse jobs data is actually good news for the stock market. For Lyn Alden's latest article on the Eurodollar system, click here: https://www.lynalden.com/fraying-petrodollar-system/.

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