Global markets continued their recent positive run, with the MSCI World finishing up 0.4% for the week, brining 2020 YTD return to 2.4%. The S&P 500 posted a fourth consecutive week of gains and closed Friday at a new all-time high. Driving the gains was expectations of additional fiscal stimulus which offset a batch of mixed economic data. Signs that a COVID vaccine could emerge in the coming months added to the positive tone.
As flagged last week, the S&P 500 has now marked the fastest recovery from a bear market in history—according to Barron’s and Dow Jones Market Data, the time it took for the S&P 500 to reclaim its February peak was over 10 times as fast as the index’s average historical rebound (1,542 trading days). CLICK HERE