Big tech is a loser two ways. One, the vaccine reduces the need for online activity an two, their movement toward shadow banking is temporarily stalled with the minor reflation. But the latter effect is going away, oil is back to 40 after jumping up to 42. Deflation is still the order of the day.
Goldman Slashes Treasury Yield Target on Reflation DelayGoldman traders use the same economic model I use.
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