What we’re reading (1/9)
“Today’s Markets Are In Uncharted Territory” (Morningstar). “[C]current interest rates are ‘literally unprecedented in human history.’ Per [CFA Institute Research Foundation director of research Laurence] Siegel’s sources, which date back 5,000 years (!), nominal interest rates in countries (or, for most of that history, empires) that were successful enough to be remembered have always been positive. Until the mid-19th century, they were almost always highly positive, at 8% or more. The lone exception was the height of the Roman Empire, where rates briefly hit 4%.”
“‘We’re In Nosebleed Territory’ — Three Market Market Analysts On Where Stocks Head In 2021” (CNBC). “Stocks are on track to end the first trading week of 2021 higher, despite an unexpected drop in jobs last month, turmoil in Washington and the ongoing Covid pandemic. Here are three experts with their market outlooks for 2021.”
“The Market’s Strange Disregard For The Chaos In Washington” (New York Times). “A rampaging mob in the halls of Congress wasn’t enough to stop the American stock market…[t]he rally continued as Congress resumed the counting of the electoral vote and certified the election of Joseph R. Biden Jr. as the nation’s 46th president. And the party was still going on Friday, despite a Labor Department report showing that employers cut 140,000 jobs in December…[i]t was, in addition, the worst stretch, to date, for coronavirus deaths in the United States.”
“CEO Arrested In Capitol Riot Calls It ‘Worst Personal Decision Of My Life’” (Wall Street Journal). “The chief executive of a small Chicago area marketing technology firm was arrested after breaching the U.S. Capitol in riots this week, one of multiple executives to have participated. Bradley Rukstales, CEO of Cogensia, based in Schaumburg, Ill., was placed on a leave of absence as the firm assesses the situation, the company said. Mr. Rukstales was arrested Wednesday for unlawful entry, according to U.S. Capitol police.”
“A New Study Has Found Being Angry Increases Your Vulnerability To Misinformation” (PsyPost). “Human memory is prone to error — and new research provides evidence that anger can increase these errors. The new findings have been published in the scientific journal Experimental Psychology.”
