The market feels heavy as the election is looming and the market is waking up to the reality, the other big issue is there is still no stimulus bill. The talk of the size of the bill is enormous, $1.8 trillion roughly or more, which is about 9% of GDP. Hard to see a bill getting done given the politics, but we should know this week. With these types of stimulus, it is only temporary, it is not like the stimulus of a tax cut, which is not temporary.

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Market in a Minute 2020-10-19