The S&P’s Record Push Relies on a Questionable Theory
Trader William Brannigan, right, signals an order in the S&P 500 pit at the Chicago Board of Trade (CBOT) in Chicago, Illinois, U.S. (Photographer: Tim Boyle/Bloomberg News)

The S&P’s Record Push Relies on a Questionable Theory

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(Bloomberg Opinion) -- The Covid-19 recovery is taking very different shapes in the world’s two largest economies. In the U.S., retail sales have staged a striking rebound to pre-pandemic levels, ...
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