Cautious optimism

29 June 2020

Equity markets suffered a setback last week as some US states reversed their reopening plans amid a resurgence Covid cases. So far the outbreak has not reached the most important economic hubs in California and the northeast, however, and European and Asian countries remain unaffected, so the global recovery remains largely on track.

  • Markets should be able to maintain their forward momentum in the long term despite rollbacks in Texas and Florida
  • Strong policy support continues with the UK treasury and People's Bank of China set to announce new measures 
  • Heightened worry in the markets reinforces our conservative focus on quality growth in equities balanced with selective fixed income investments
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