Wall Street believes in Biden after countless wrong infrastructure bets

President Biden’s proposed $2 trillion infrastructure plan has the market excited.The iShares U.S. Infrastructure (IFRA) exchange-traded fund and Global X U.S. Infrastructure Development ETF, which trades under the appropriate ticker symbol of PAVE (PAVE), are each up more than 15% so far in 2021.”Investors have been waiting a long time for a generous, federally led infrastructure package,” said David Bianco, chief investment officer of the Americas for DWS. “Politicians have promised this for more than a decade. Something’s finally going to be done and it will be big.”So it should come as no surprise that the infrastructure ETFs, which own many top industrial firms, are surging this year. Top

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