Russell 3000 P/E just hit all-time highs.
1) Tech bubble, near record prices with low earnings.
2) Post GFC, low prices with depressed earnings.
Record prices with depressed earnings. pic.twitter.com/2PwkO8f9XK
— Otavio (Tavi) Costa (@TaviCosta) November 10, 2020
No big deal, just a record 10-sigma move in Energy vs NDX yesterday.
While not entirely a surprise, no one knows what will happen next. Patience is usually a good option.
One thing's for sure – these mini-earthquakes are happening more often, and this regime isn't "normal". pic.twitter.com/7ZIDbtDBrf
— Macro Charts (@MacroCharts) November 10, 2020
Early signs of stabilization in the most affected countries at higher levels compared to spring, according to Google mobility data. Together with estimates of R falling, cause for cautious optimism that the second dip in Q4 will be more benign. pic.twitter.com/rNYbmU8c4t
— Daniel Kral (@DanielKral1) November 10, 2020
What a vaccine does… pic.twitter.com/Ux39K4gnCW
— Daniel Lacalle (@dlacalle_IA) November 10, 2020
— AFPgraphics (@AFPgraphics) November 10, 2020