That’s according to Julia Coronado, president and co-founder of MacroPolicy Perspectives. “We have a saying in markets called ‘buy the rumor, sell the fact.’ We’ve been focused on stimulus for weeks and months. Now that we have it, well, actually, it’s not as big as we had expected a few months ago.” Combine that with increasing infection rates, a new, more infectious mutation of the virus in the U.K. and other lockdown news, and you see that there’s no sure bet on the immediate future. Getting to brighter future of widespread vaccination “still brings a lot of bumps along the road, potentially,” Coronado said.
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