Can anyone tell me why stocks are up after 3.2m new jobless people as of 3/21, and 10 year treasury yields are down? It looks like people are rushing towards both stocks and 10 year notes.
This could be one of many reasons.
[edit] here we go, forgivable loan of up to 10 million, based on the company payroll https://www.inc.com/kevin-j-ryan/inc-chamber-of-commerce-sma...
Personally Im mixed. Given how inflated stocks are at historical earnings and the severity of covid to the economy you'd think this drop will go much further. A couple months lockdown might really push a new reality. But offset that to even lower intrest rates coming, surely more and more quantative easing and a current view to somewhat prioritise the economy over people....who knows.