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New Record Number of Covid Cases Doesn't Curtail Appetite for Risk
A new daily high number of contagions globally has been reported, but the risk-appetites have been stoked. Chinese stocks have been on a tear. The Shanghai Composite rallied 5.7% today to bring the five-day advance to 13.6%. Most other regional markets, including Hong Kong, rallied as well (3.8%). Australis was the main exception, and it pulled back by 0.7%. It is still up a solid 3.4% over the past five sessions. European shares are advancing. The Dow Jones Stoxx 600 is up around 1.4% near midday and has gained four of the five sessions last week. US shares are up around 1%, positioning the S&P 500 to open near the ... (full story)