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May is going to be when there will be a staggered process to start opening up the American economy, said Chris Wood
Global equity markets are eyeing reopening of major economies across the globe rather than virus-related data, said Christopher Wood, global head of equity strategy at Jefferies in his weekly note to investors, GREED & fear. As regards the United States (US), Wood expects a gradual opening up in May.
“The stock market, in GREED & fear’s view, is now more focused on news on re-opening than on the virus-related data, be it cases or deaths. May is going to be when there will be a staggered process to start opening up the American economy. Because of America’s federal constitution this is going to go state by state, a process which will be distorted by the politicisation of Covid-19,” Wood wrote.
First Published: May 01 2020 | 09:25 AM IST