MACROSCOPE No. 36: After coming full circle in record time, what next for the markets?

The ferocity of the “Coronavirus Correction” has been matched by the velocity of the subsequent rebound, bringing the markets full circle in record time of just about 16 weeks. What comes next?On June 8, the S&P 500 briefly turned positive for the year (Figure 1), no mean feat considering it was down as much as 32% at its March 23 low of just under 2,200. The 1,000-point rebound – or 47.5% in percentage terms – occurred in only 11 weeks and left the index less than 5% away from its record high. Click here to read the rest of Macroscope