Stocks jumped in Europe and Asia alongside U.S. equity futures after the reported death tolls in some of the world’s coronavirus hot spots showed signs of easing over the weekend. The dollar edged higher and Treasuries fell.
“There is light at the end of the tunnel but it’s still a long tunnel,” Erik Nielsen, UniCredit SpA’s London-based chief economist, wrote in a note Sunday. “We are still optimistic that the administration will be able to get this virus under control and reopen the economy by the end of April, early May,” Lindsey Piegza, chief economist at Stifel Nicolaus & Co., said on Bloomberg TV. “If that does occur, it’s likely that we’re able to control the downturn from a depressionary scenario into a recessionary scenario.”
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