Comment: Markets may well confound post-Covid expectations
The performance of the S&P 500 seems to fly in the face of evidence that the US is heading for another Great Depression, proving that the only thing that’s certain is uncertainty
Though I have spent nearly 40 years studying financial markets, I find them as bewildering, complex and fascinating as ever. At the time of this writing, the most widely watched equity index, the S&P 500, is trading at around 2,878, where it closed on April 27. That was its highest close in six weeks, putting it less than 15 per cent below its all-time high, reached just before the Covid-19 pandemic, and some 30 per ...