Business
The foundations of this bull market are wobbling – Sydney Morning Herald
There are three pillars holding up otherwise overheated sharemarkets. Two of them are on shaky ground.
The Biden surge since Joe Bidens inauguration earlier this month was attributable to his plans for a massive new $US1.9 trillion stimulus/relief package; plans that initially looked likely to be implemented urgently but are now faltering in the face of Republican opposition in the Senate.
Therell be a package but it might take longer to be enacted and is likely to be significantly smaller even as, as Powell and the Fed said after this weeks Open Market Committee meeting, the momentum in the US economy…
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