- Market Perspectives
- 30/10/2020
Highlights:
- The rise in new Covid-19 cases and renewed lockdowns across Europe are casting long shadows over the economic recovery and markets.
- Yet much more targeted restrictions, a strong Chinese rebound and continued massive fiscal and monetary policy support will keep the second wave’s impact far more muted than in spring.
- Amid higher risk, we trimmed our overexposure to equities further, while keeping a sizeable preference for high-grade Credit, which continues to benefit from ECB support and the hunt for yield.