Business
The end of the party looms for markets high on stimulus – The Australian Financial Review
If inflation resurfaces and bond yields rise more sharply than expected, the impact could easily end the rally of 2020.
With more money in the bank, and more time on their hands because of lockdowns, many workers turned to punting in the markets. Of 49 million online brokerage accounts in the US, 13 million opened in 2020, according to calculations by Scott Rubner of Goldman Sachs. The week after stimulus cheques went out in April, trading by middle-class Americans soared.
US retail investors helped fuel flash manias for bankrupt companies such as JCPenney, and more recently for another faltering retailer, GameStop….
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