Hints and tips:
...Public Sector spend better/Industrials weaker)....
...Q4 2019 u/l PBT beat “rebased” consensus expectations by £111m (13%), though the outlook statement is somewhat sobering. ......
...Once the market troughs, Tech, Consumer Cyclicals & Industrials take the leadership roles....
...V, U, or L? The nature of Covid-19 growth impact means that some elements – e.g., production resumption, inventory restocking, and travel normalisation – would lend a natural rebound to growth....
...However, our Economists see some tentative signs that the aggregate response from policymakers in the advanced world, including cheap credit, unlimited quantitative easing, liquidity injections, unlimited...
...The V-shaped recovery in consumer spending feels too bullish in our view....
...(Romley, Goldman, Sood and Austin Frakt) —— 28....
...So an L-shaped recession in terms of trend growth but not the level of output....
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