Over the last five weeks, equity markets have experienced an unprecedented and unique environment. There has never been, in recent times, a situation like COVID-19 which has resulted in, not only a slowdown in the global economy, but a lockdown.
Equity markets have struggled with how to process this situation as although there is hope that this does not last long, it will mean minimal revenues for many companies as a large part of the World’s economy goes into hibernation. This will cause financial stress for many businesses, economies and consumers as costs dwarf revenues.
However, there has been a rapid response from Governments and Central Banks to try to ensure that financial stress is avoided and that it does not start a downward economic spiral. Essentially, there is commitment to a “whatever-it-takes” approach of financial stimulus.
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