This partly reflects so-called “risk on” sentiment – investors are feeling their oats as the odds of a smooth presidential transition, a return of inflationary pressures and sizeable Covid-19 relief for households all rise. The purchase is the latest bet by Hipgnosis founder and former Elton John manager Merck Mercuriadis that royalties from streaming and sampling will balloon, even as concerts and live music gradually return post-Covid-19. NEW YORK/LONDON/HONG KONG (Reuters Breakingviews) - Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.