Can Policy Restart this Circular Flow into Rising Covid Risks?
cheapconvexity.substack.com
Sections - Path vs. destination, the policy "distributional transfer." - China is in the process of a durable "suck in" of Capital. - Does Blue Wave = Sell Blue Eurodollars? Path vs. destination. And the policy "distributional transfer" As we head into November third, the market is stuck between a path and a destination. The destination is an effective vaccine that can be rolled out over the course of next year, and is coupled with robust fiscal expansion. However, the path to that end game is a bit murky. The virus is still a present and asymmetric risk to economic activity, especially if lockdowns are still part of the policy choice to reduce the rate of transmission. And to go along with this, fiscal policy that has been so key in supporting the economy through this turbulence, has either lapsed like in the US and is insufficient/late in places like Europe.
Can Policy Restart this Circular Flow into Rising Covid Risks?
Can Policy Restart this Circular Flow into…
Can Policy Restart this Circular Flow into Rising Covid Risks?
Sections - Path vs. destination, the policy "distributional transfer." - China is in the process of a durable "suck in" of Capital. - Does Blue Wave = Sell Blue Eurodollars? Path vs. destination. And the policy "distributional transfer" As we head into November third, the market is stuck between a path and a destination. The destination is an effective vaccine that can be rolled out over the course of next year, and is coupled with robust fiscal expansion. However, the path to that end game is a bit murky. The virus is still a present and asymmetric risk to economic activity, especially if lockdowns are still part of the policy choice to reduce the rate of transmission. And to go along with this, fiscal policy that has been so key in supporting the economy through this turbulence, has either lapsed like in the US and is insufficient/late in places like Europe.