The Week Ahead: No place to hide from the bear market

Wall Street loves acronyms and nicknames. Consider the “TINA trade,” which came into currency as governments struggled to mitigate the fallout of COVID-19. With interest rates low, the Federal Reserve and federal government pumping trillions of dollars into the economy, and the job market snapping back from its pandemic-induced but short-lived freefall, TINA ruled the investment markets. TINA stands for “there is no alternative.” In the COVID-19 capital markets, that meant stocks. Bond prices were already high, real estate was red hot, and with plenty of money looking for places to go, the sto…

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