“It’s Over”: As Far As Wall Street Is Concerned, COVID Is History

A Wall Street sign is pictured in the rain outside the New York Stock Exchange in New York June 9, 2014. REUTERS/Carlo Allegri

Zero Hedge: At the end of January, when looking at the plunge in covid cases, deaths and hospitalizations we asked a question: “Is it almost over?”

We got the answer today, when BofA published its latest Fund Manager Survey (which as is the tradition every month, polled some 220 panelists with $630bn in AUM). The title said it all.

Of course, the social impact of the covid pandemic is far from over and in fact, now that the AstraZeneca/Oxford vaccine is on the ropes, it appears that Europe (for various political and monetary reasons) may be relapsing and get yet another round of lockdowns soon. But at least as far as markets are concerned, Covid is officially yesterday’s news and is no longer the biggest bogeyman on Wall Street.

Indeed, as the March BofA fund manager survey (which was taken between March 5 and 11) reveals, COVID-19 is no longer the #1 “tail risk” for the first time since Feb’20… Read more