Why 'it is not all gloom' for European assets

Investors are grappling with the huge uncertainty caused by the global Covid-19 pandemic. The human and economic impact has been dramatic, both in its magnitude and in its velocity.

The lockdown is driving a deep economic downturn, corporate earnings are evaporating, volatility is at record levels, unemployment is spiking and PMIs collapsing. Brexit Blog: Downing Street to resist calls for extension despite IMF warning It is not all gloom, however, and with every government, central bank and corporate trying to fight the virus, the downturn could be short-lived. There are some signs that containment is working in the West, while in the East businesses are re-opening. Meanwhile, the unprecedented governmental support to individuals and businesses allied to s...