As of this writing, it’s a rough start to the week for U.S. equities. Major indices attempted to find more stable ground last week, but volatility risks persist and the bears are winning the latest round. Policy risks abound—not just election-related, but both monetary and fiscal policy as well. There is little progress being made in getting the next fiscal relief package passed; while the rate of change of the Federal Reserve adding to its balance sheet has stalled. Given the bull market since March 23 was heavily supported by the boost to M2 money supply driven by both monetary and fiscal policy—nearly 25% ... (full story)