Marc-Antoine COLLARD, Chief Economist, Head of Economic Research, Asset Management, Europe
While sovereign yields signal the global economy might remain lacklustre for a prolonged period, equity investors seem convinced policymakers have pre-emptively short-circuited a recessionary feedback loop and that stimulus will be enough to bridge consumers and businesses. Yet, rating agencies have been forecasting a classic recession scenario, accompanied by a typical surge in bankruptcies. Overall, uncertainty remains.
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