FAST FIVE: Stocks Soar To Best Quarter Since '98 As Fed Balance Sheet Explodes
Source: Bloomberg And while much has been made of the recent surge in cases, the market remains confident (VIX relatively unmoved), clearly focused on the falling incremental death rate.
Source: Bloomberg The Nasdaq soared 30% in Q2 and led the US majors, and The Dow lagged (though with a stunning 16% gain).
Source: Bloomberg Q2 was the biggest short-squeeze ever.
Source: Reuters And valuations soared to near record highs.
Source: Bloomberg This was WTI's best quarter since Sept 1990, Gold's best Q since Q1 2016 (up 7 quarters in a row), and Silver's best quarter since Q4 2010.