As stock markets ring out 2020, here’s the most underappreciated risk to their stability in 2021

Much has been written this year about the striking disconnect between Wall Street and Main Street. Despite the economic devastation wrought by Covid-19, and the fierce resurgence of the virus in Europe and the United States over the past few months, stock markets are ending 2020 in an ebullient mood, suggesting that the deepest recession in a century never occurred.Yet, just as remarkable is the consensus about the direction of markets. Although the global recovery is sputtering, and most major…

Read the original article at South China Morning Post