Stocks vs bonds: Who's right?

Federal Reserve Chairman, Jerome Powell, warned explicitly that the economic recovery in the US will depend on the path of Covid-19, perhaps in an effort to provide a dose of realism to buoyant equity markets. The optimism priced into stocks stands in stark contrast to the much more negative sentiment in the bond market, where Treasury yields are near record lows. In this podcast, Padhraic Garvey, ING's Regional Head of Research in the Americas, tells Senior Editor Rebecca Byrne which market has got it right.