But Anthony Willis, investment manager in the BMO multi-manager team struck a more cautious note.
“The immediate outlook for US equities will be volatile, given that news flow has the potential to deteriorate further on the coronavirus and even with intervention, we are likely to see a significant hit to the economic data and corporate earnings.”
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He said he doesn’t think the “US equity market has bottomed yet”, but at some point in the future markets are likely to rebound due to an expected global medical response and a significant fiscal package.
But he concluded: “For long-term investors, an attractive entry point may well be coming but there are still downside risks in the short-term.”
saloni.sardana@ft.com
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