Mottek On Money

Blue chip stocks end the week at record highs following the signing into law of the $1.9T pandemic relief package one year after the devastating Covid pandemic was declared. Direct payments of up to $1,400 to individuals are expected to start flowing to bank accounts and mail boxes starting this weekend. Tech stocks pulled back as long term government bond yields ticked higher in a volatile week. Bitcoin got close to its record high above $58K before pulling back. The record breaking $69.3 million sale at auction of a purely digital work of art has grabbed the attention of the worlds of art and cryptocurrency and shined the spotlight on something called "non-fungible tokens." Southern California counties are set to move out of the most restrictive covid prevention rules allowing businesses including restaurants and theaters to reopen some indoor operations. The latest on the markets and the economy discussed with Dr. Mohamed El-Erian, President, Queens' College, Cambridge, Chief Economic Advisor at Allianz, f