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Stock and bond prices say something troubling about the coronavirus economy

May 20, 2020

U.S. stocks have rallied sharply since the March tumble, while bond yields are deeply depressed, hovering near all-time lows, but, in a recent analysis, Peter Berezin, chief global strategist for BCA Research, lays out a straightforward — if bleak — explanation.

The coronavirus pandemic is likely to pummel Main Street while leaving Wall Street relatively unscathed, Berezin writes, and asset prices are reflecting exactly that scenario.

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