Investors who feel like they’ve gone from the best of times to the worst of times in a matter of weeks aren’t far off: .
“Given where we are in markets, given where we are in the cycle in 10 years, anything that’s negative in markets they’re going to jump,” said Philip Webster, director of European equities at BMO Global Asset Management in London. “Investors shoot first and ask questions later at the moment.” These are the big survivors of the everything rally. For much of 2019, U.S. bonds and gold rallied on the back of a central bank pivot toward easier policy at the start of the year. Now, expectations that more rate cuts or stimulus will be needed to combat the impact of the coronavirus are further stoking those kinds of bets.
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