Investors are returning from the long holiday weekend in an upbeat mood, with some attributing that optimism over an imminent changing of the guard at 1600 Pennsylvania Avenue. And we’ve got earnings and comments from Biden’s top Treasury pick, Janet Yellen, ahead.

The S&P 500
is up about 0.3% for the year after last week’s pullback. That pales in comparison to some assets, with bitcoin
up another 27% this year, after a 300% return in 2020. And electric-car maker Tesla
has gained 17% so far in 2021, after around a 700% gain last year.

Read: Tesla’s new $950 stock price target at Wedbush is the highest on Wall Street, but the analyst still won’t say buy

On that note, we move onto our call of the day, which is all about bubbles. It comes from a survey just published by Deutsche Bank, who asked, among other questions, where investors are seeing the froth right now.

Some 89% of…

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