COVID-19 UPDATE: Florida is 12 days into "no restrictions" and daily cases and positivity rates BOTH trending lower

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STRATEGY: The markets prefer stimulus now, naturally
Equity markets saw a painful reversal yesterday, as the White House announced that any fiscal stimulus is set to happen after the election day.  This was a surprising negative development since nearly everybody in Washington agrees fiscal stimulus is not only important at this juncture, but the timing was also crucial.  However, it seems that the chasm between what Dems vs Republicans saw as appropriate was too large a divide to bring together.

Our Washington Strategist, Tom Block, shared this comment today.  He sees this as disruptive, as there is no going around the White House decision.  At this same time, we know that nothing is final in Washington, so this could prove to be moving a different path in a few days. 

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Source: CNBC 

Is the US situation better today versus a month ago? YesThe relative resilience of markets has surprised many people in the past few days, given the myriad of negative developments.  Here is a list of the issues that are generally negative: - US cases are rising = bad- NY and NYC are seeing cases rise after extremely low case = bad- President Trump contracted COVID-19 at a superspreade...

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