Has the emergence of a new Covid strain in the UK undone the recovery trade?

Has the emergence of a new Covid strain in the UK undone the recovery trade?

No, not at all if you trust the breadth and the immense size of the bond markets!
Have a look at the US Treasury 30Y rates heading actually slightly higher (!) last 5 days, plotted vs. the Energy Equities, which is probably the most sensitive Sector.
Bonds signal a continuation of a the RECOVERY (yes!) trade 

Has the emergence of a new Covid strain in the UK undone the recovery trade?

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