Senate Majority Leader Mitch McConnell, R-KY,
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8:04 am: Markets can rise 15% by year-end, Credit Suisse’s Garthwaite says
Credit Suisse global equity strategist Andrew Garthwaite said in a note to clients that equity markets could gain 15% by the end of the year as global economies move past the coronavirus pandemic. Garthwaite said in the note that the low interest rates from aggressive central bank action, the success of Korea and China in returning to work and the historical patterns of bear markets all support the idea of a strong bounce back for the rest of the year. The investments in medical infrastructure should also limit the potential for a second wave of the virus in the fall, the note said. “We assume a six- to eight-week full lockdown in Europe and the US, before the majority of workers return, on the basis that in two to three months’ time treatments, testing and ventilators will be far more able…
