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By Mark DOWDING, CIO at BlueBay Asset Management
July to reveal if the worst is behind us or if the real pain is yet to come.
Increasing concerns with respect to the spread of Covid-19 saw equity markets erase their month-to-date gains during the past week. Over recent days, we have witnessed a steady trend higher with respect to infections in many US states and there is now clear evidence of an acceleration in several large states, including Texas, Florida, Arizona and California.
In hindsight, it appears that the rush to re-open the economy before bringing the contagion under control means that infection rates on a national level are now passing the prior peak in April. This is leading to speculation that restrictions on...
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