• While economists will continue to debate the shape of the economic recovery , equity markets have opted for a template resembling one off shocks like 1987 or 911 where macro fundamentals played a secondary role (p.2).
• Whether this disconnect from fundamentals can be pushed further hinges critically on the policy response for the rest of 2020. We look at some of the key questions (p.3)
• The search for protection in hedge assets was soon replaced by a search for growth in those segments of the equity market most resistant to the economic down turn .
• We expect this trend to continue , independently of whether economic growth surprises on the upside or the downside (p.4).
• For more information about our Fund , please see : https://c a p.dk/our fund/