Business
We review the first half of 2021. What did we learn? What did we-unlearn? In the spirit of brevity, we listed out the key themes of 2021 so far. On Macroeconomics Corner:No one understands the bond market:No one knows if inflation is transitory or secular. No one knows where treasury yields will go exactly (except Carter Worth).In Equities:The reflation trade became the everything trade. MegaCap Tech is like Tom Brady. Emerging Markets have still not emerged. Growth still lies in the shade, victimized by turbulence in rates. In Crypto:Ethereum is still the best performing asset of 2021.