Just Another Manic Monday
It’s frightening how normal it feels to wake up on Monday morning and see markets flashing red and down another 5%.
That is the world we live in now though, with the number of confirmed cases and deaths spiking around the world and the worst still yet to come. Governments and central banks, to their credit, are not taking the crisis lightly and have announced enormous stimulus packages to protect households and businesses, but even that hasn’t been enough.
As long as we continue to see this kind of exponential growth around the world, the case for a stock market bounce is weak. Even stability will be hard to come by. If investors hate uncertainty, they’ll despite this. The v-shaped recovery is a hope of the past, everyone is now just hoping that the temporary unemployment spike doesn’t become more permanent or we have a real problem on our hands.
The failure of the US Congress to pass its stimulus package doesn’t help matters. It will not have…