What would have been labeled as a “conspiracy theory” just a few short years ago is now a generally accepted fact, a recent study by UBS shows. A survey by the firm showed that when it comes to belief in what drives financial markets, respondents overwhelmingly believe that nothing matters more than the Fed. UBS strategists led by Bhanu Baweja stated that in the present market environment, “There was overwhelming consensus that monetary and fiscal stimulus was the most important driver for markets.” Nothing else was even close. Coranavirus ranked fourth.
What Drives Markets
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September 14, 2020