Global equities, as measured by the MSCI World Index have seen a whopping 39% recovery since the horrors of late March. The UK Index of UK equities has delivered a total return of 26% the technical definition of a ‘bull market’. The rally had been led by major US tech shares. But recently it has been European, rather than US, shares that have made the most headway.
US Job data
The US employment data released 5th June also showed an impressive bounce back that no economist had predicted
Chancellor Rishi Sunak is delaying his big stimulus package of tax cuts and spending commitments until the autumn. Space given to perhaps a quietly optimistic V shaped view of recovery. A move that allows for a taking stock of the economic situation then seeing if when and where further support makes sense.