Stock markets bounce back despite poor economic prognosis
by Larry Elliott from on (#54P1B)
US Fed and IMF predict recession for most economies in 2020 because of impact of Covid-19
Downbeat assessments of the economic impact of Covid-19 from America's central bank and the International Monetary Fund failed to dampen spirits on the world's stock markets as they bounced back strongly from recent heavy falls.
Shares in both Europe and the US posted gains on hopes that a mooted $1tn (780bn) US infrastructure plan and a decision by the Federal Reserve to buy corporate bonds would boost chances of a V-shaped recovery from the pandemic-induced recession.
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