Midweek swings

US equity indexes closed broadly higher, sp +29pts (0.9%) at 3226. Nasdaq comp' +0.6%. Dow +0.9%. The Transports settled +2.9%.

sp'daily5

VIX'daily3

Summary

US equities opened on a significantly positive note, inspired by the late Tuesday headline on the Moderna vaccine candidate. The SPX saw a morning high of 3238, but cooled to psy'3200.

Meanwhile...

Even though he is a distant memory to many, ex fed chair - the Ben Bernanke, is touting more bailouts, this time for the individual states. Who will effectively fund this? Ohh yeah... Print Central!

The afternoon saw considerable chop, with a closing hour cooling wave to 3210, but then spiking upward to settle at 3226.

UK Govt' TV advert

Here in the UK, the latest propo' from the government is touting a new start, with 'Lets get going'. Ohh right, masks in all shops, that is progress, right? What about the collapsed tourism and travel industry, the bars, or the restaurants? What about those? What are they supposed to do for the rest of the year?

Volatility was itself subdued, the VIX settling -6.0% to 27.76.

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Goodnight from London
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