Commuters in face masks take the metro in Paris on May 11, as France cautiously begins to lift its Covid-19 lockdown. The easing of lockdowns in the US and Europe, following China’s, is buoying market sentiment. Photo: AFP Commuters in face masks take the metro in Paris on May 11, as France cautiously begins to lift its Covid-19 lockdown. The easing of lockdowns in the US and Europe, following China’s, is buoying market sentiment. Photo: AFP
Commuters in face masks take the metro in Paris on May 11, as France cautiously begins to lift its Covid-19 lockdown. The easing of lockdowns in the US and Europe, following China’s, is buoying market sentiment. Photo: AFP
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Why investor optimism about the post-lockdown economic recovery is premature

  • The news of a promising vaccine trial, and the easing of lockdowns in leading economies, have played into an increasingly optimistic narrative in markets
  • But a market rally that is almost entirely based on hope might soon evaporate

Commuters in face masks take the metro in Paris on May 11, as France cautiously begins to lift its Covid-19 lockdown. The easing of lockdowns in the US and Europe, following China’s, is buoying market sentiment. Photo: AFP Commuters in face masks take the metro in Paris on May 11, as France cautiously begins to lift its Covid-19 lockdown. The easing of lockdowns in the US and Europe, following China’s, is buoying market sentiment. Photo: AFP
Commuters in face masks take the metro in Paris on May 11, as France cautiously begins to lift its Covid-19 lockdown. The easing of lockdowns in the US and Europe, following China’s, is buoying market sentiment. Photo: AFP
READ FULL ARTICLE