In his weekly update, Jurrien Timmer, Director of Global Macro, shares his market insights. The market is more focused on the impacts of COVID-19 than the U.S.-China relationship right now, and this is an area to watch, particularly with an election approaching. While looking at the disconnect between Wall Street and Main Street, Jurrien believes that, as in the Great Financial Crisis, further-out earnings estimates may be too low during times like these. Also, lately we have seen positive breadth and momentum, positive leadership, a falling U.S. dollar, a flattening earnings curve and a lot of skeptics in the market. Markets are up 40% from the lows and are down only 10% from the highs.
Recorded on June 1, 2020.