21st July, 2020
World stocks have all but completed the much vaunted “V”-shaped recovery from the pandemic shock, anticipating a healing of the global economy over 12-18 months. Discrimination between regions may now become the investor focus, with many funds seeking to overweight Europe for a variety of reasons related to post-pandemic stimulus, wariness of the US election, Brexit in the UK and just better valuation levels. But success in controlling the pandemic is also a factor and may make Europe's recovery from lockdown more sustainable too.
Chart by Ritvik Carvalho and commentary by Mike Dolan.
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