Sometimes it takes a few sharp slaps across the face to stop the hysteria in an otherwise unwell patient.
The record number of Corona infections (47 k) in one day in the USA on Friday are the slap across the face which will stop a lot of the hysteria in the equity markets. The FOMO is going to replaced by just FEAR.
I strongly suspect a big week for Gold as greed recedes and safety becomes the main motivator.
The Fed will have to spend a lot of money if they want to keep the markets buoyant.
