Join BI PrimeDavid Kelly, chief global strategist for JPMorgan's asset management business, says stocks will do well even if the recovery from the recent market plunge is very slow.will keep spreading despite the ongoing efforts to contain it.
Specifically, he's considering an outcome where efforts to contain the virus through social distancing fail and infections continue to grow — but stocks perform well anyway. That means the virus will become a long-term issue that people and businesses will have to manage, and will re-shape life even after effective treatments and vaccines are developed.
Kelly continued: "It's probably permanently damaging to the business travel business. Maybe a little bit less so far for vacation travel, because I think everybody will want a vacation when this is over."
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