Citigroup says U.S. markets will return to levels from before March’s coronavirus lockdowns more than twice as fast as after the financial crisis
U.S. stock markets will deliver among the steepest recoveries in their history over the next year, returning to levels from before March’s coronavirus lockdowns more than twice as fast as after the 2008 financial crisis, according to analysts from U.S. bank Citigroup.
The forecast is among the most bullish among U.S. market forecasters, many of whom are forecasting next to no gains for the next 12 months. The optimistic targets reflect expectations for improved economic performance next year and in 2022, analyst Tobias Levkovich said in the note. After the 1987 stock market crash the indexes also took more than 18 months to make such recoveries, though both then and in 2008, the losses also took longer than this time around.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock futures dropping after yesterday’s monster rally as optimism fadesHeadwinds remain for stocks, not least a deteriorating U.S.-China relationship
Read more »
Stocks open higher on Wall Street, extending global gainsStocks are opening higher on Wall Street, extending a global rally as the U.S. market bounces back from its worst week in two months.
Read more »
5 things to know Tuesday, May 19, 2020Canada has more than 78,000 total cases and more than 39,000 recoveries.
Read more »
Germany, France propose 500 billion-euro virus recovery fund for EU economyThe leaders of Germany and France agreed Monday on a one-off 500 billion-euro (US$543 billion) fund to help the European Union recover from the coronavirus pandemic, a proposal that would add further cash to an arsenal of financial measures the bloc is readying to cope with the outbreak's economic fallout.
Read more »
Feds quietly probe expanded role for child care in post-pandemic recoveryThe federal government has been quietly probing how to provide provinces with more money annually for child care, as part of what sources describe as an issue that is at, or near, the top of the Liberal agenda to restart the economy.
Read more »