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“Coronavirus deaths topped 500,000 worldwide”, is the first headline to grab investors’ attention this morning. The mission is unaccomplished and the virus is still winning the fight in several countries, particularly in the US, Brazil and India.Hopes of a robust economic recovery following the pandemic are now shattered. The risks of re-imposing lockdowns are high, and monetary policy stimulus which explains most of the recovery in asset prices from the March lows will become less effective going forward if it doesn’t translate into a rebound in economic activity and better prospects for... Read More

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