After just three months, the Covid-19 pandemic that put the whole world in lockdown isn’t that newsworthy anymore.
At least to the market, that is.
This may seem strange, even flippant. After all, about 1,000 Americans still die of Covid-19 every day, and most states are still under some form of lockdown or restrictions.
And yet the markets don’t react to news about Covid-19 anymore.
For example, Texas was one of the first states to begin reopening. This past Saturday, the Lone Star State reported its highest increase in Covid-19 cases yet.
Traders shrugged it off.
North Dakota and Alabama are also seeing a rise in new cases after beginning to reopen.
These are numbers that a month ago would have sent traders into a tizzy.