The Transcript 11.09.20

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Succinct Summary: It was hard to pay attention to anything other than politics last week, but we're trying our best to keep a focus on the economy. Economic activity appears robust from the earnings reports that we're reading. Even the hardest-hit industries appear to be performing much better than expected. The tech industries that surged may be normalizing though. We're getting a strong new surge in Covid cases, but people seem to feel more prepared than they did last spring. Editor's Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going.

The Transcript 05.11.20

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Succinct Summary: Companies are reporting signs of improvement in the economy. But the rebound is coming off such a low base that these numbers would still be considered very bad in any other environment. The duration of this rebound will depend heavily on whether or not there's a second wave of infections. Still, even without the virus it probably will take the economy a long time to recover from such a severe shock.  On an industry basis: private capital markets are searching for price levels; consumers are dreaming of the future; tech is chugging along; and the industrial/energy economy is feeling immense pain. Editor's Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going.