Attributing the recent gains in equities and emerging market currencies to extraordinary monetary and fiscal stimulus measures, Eric Robertsen, head of global macro strategy at Standard Chartered, warned clients that the risk-rally lacks sustainability.
A passerby with a face mask walks past a stock board in Tokyo's Nihonbashi district showing the Nikkei average index falling on the Tokyo Stock Exchange during the corona virus pandemic. Concerns are growing about the increasing cases of COVID-19 in Japan.Investors in Asia are kicking off the new trading week with a note of caution, keeping an eye on volatility emanating from Wall Street.
The full extent of the economic fallout is still unknown, and equity and credit markets still face considerable risks from earnings, downgrades and regulatory changes.this week stateside that could fuel economic gloom. The focus will be on the weekly jobless claims due Thursday, after the prior report revealed a record 3.2 million in claims for the week that ended March 21.
"No one has real insight yet into the impact into earnings, the fundamental drivers of markets here, that's the next stage to come," Gerard told CNBC's Street Signs Asia. He credited central bank and fiscal stimulus measures with taking some of the fear out of the market and allowing participants to get back in.No sign yet of a strong rebound
If you think this current market had anything to do with economics or the ridiculous practice of chart comparison, then you belong in the same padded cell as the nut-job in the WH.
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