Markets remain subdued as the world’s biggest economies start to emerge from the deep trough the entered during the coronavirus lockdown, but some positive signs are starting to become visible.
- Economic data in the US is still poor but the worst appears to be over.
- Chinese production numbers have rebounded strongly, although consumption has a long way to go to catch up.
- Defensive growth stocks are performing better than cyclicals as investors wait for more clarity before committing to a recovery narrative.
