Take Five: World stocks' 2020 rollercoaster ride rumbles on

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World stocks have been on a rollercoaster ride in the first half of 2020. Having slumped 35% from Feb. 20 to March 23, they are now within 10% of February’s record highs thanks to lashings of fiscal stimulus, interest rates slashed to 0% or below in most major economies, and massive amounts of QE. Borrowing costs for high-grade U.S. companies have in fact fallen below January levels.

Hong Kong will be in the Chinese parliament’s sights when it meets on June 28-30 to finalise a security law aimed at tackling separatism, subversion, terrorism and collusion with foreign forces. Graphic: How much do you support or oppose to Hong Kong independence? How much do you support or oppose to Hong Kong independence? -After the dire numbers of April and May, recent U.S. economic dataflow has delivered good news for the most part, helping keep stock markets within 10% of their pre-coronavirus levels.

Non-farm jobs actually rose 2.5 million in May, versus April’s record 20 million-plus plunge. Another improvement could allow markets to push higher - bar further coronavirus-linked lockdowns.Economies are bouncing back from the COVID-19 shock, so will inflation follow? Preliminary June euro area data may offer clues.

Behind the shift perhaps are the growing odds of a presidential election victory for Democrat Joe Biden, worsening U.S./China ties and the continued rise in U.S. coronavirus infections that prevent economic activity from fully resuming.

 

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'the crisis has exposed weaknesses such as companies' high debt levels and their over-reliance on share buybacks.'

I thought Trump was going to be the economy president? I guess he lied AGAIN

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