The federal government set up stimulus payments to prop up the economy. They may also be propping up the market.
Analysts at Deutsche Bank recently estimated that as much as $170 billion from the latest round of payments could flow into the stock market. A survey found that traders ages 25 to 34 said they expected to put half of their “stimmies,” a popular term for stimulus checks, into stocks.
Separately, the value of collectibles — like coffee tables, whiskey and Porsches, above — has soared. That’s partly thanks to the wealthy who have been one-upping each other in online auctions. Here’s how they’re spending their extra cash.
The New York Times
