The everything rally is in full swing. Why it can continue

You can't buy everything, but everything you can buy is higher today.

Oil has now turned higher and that now puts just about everything into positive territory. A weak US dollar and election relief are leading to massive bids in everything. That's even with no sign of Trump conceding and a pandemic raging.

What's happening here is that the market is looking beyond a vaccine and to a time of quieter politics and fewer trade tensions. That's a world of easy money and high government spending globally, even if it's a bit less than it would have been in a blue wave.

I tend to think there is some heavy short-covering underway as well. The elevated VIX in the runup to the election is coming down and it still has a long way to go. That's going to be a big tailwind. It's very reasonable to expect the VIX to be cut in half from here and that's going to set the stage for even more call-buying.

printing money