What just happened?
It’s The Trump Show and we’re just living in it. From the shocking news that the president tested positive for coronavirus and was checked into the Walter Reed National Military Medical Center for three nights, to his proclamation that there would be no fiscal stimulus, to his next-day reversal, President Donald Trump dominated the talk in markets over the past week.
We covered the ups, and the downs, for airline and travel-focused ETFs: a lot of turbulence, you might say. Also, the materials sector started to strengthen, and financials jumped as markets began to price in a Democratic sweep that could boost fiscal spending and reflate yields.
That’s reflected in weekly fund flows, shown at the bottom of this page. Bond funds sold off, but bank funds rallied.
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“A fascinating time to be an active manager”
A fund that launched in 2019 is having