Global Investment View - May 2020

Monday 11 May 2020

Market Commentary

The aftershocks of the COVID-19 earthquake

After closing one of the worst quarters ever for equity markets, Q2 started on a high note, with indices (S&P 500 and Euro Stoxx 600) recovering markedly from the bottom hit during the previous month. There is clearly a battle between bull and bear forces taking place. How long it will last is the key variable that will determine the shape of the recovery, which now appears likely to be U-shaped, with a long bottom phase and the slow recovery.


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