Hints and tips:
...If the economic trajectory does indeed look more like an “L” than a “V” or “U”, portfolios will need to combine recovery stocks with cash and lower-risk bonds as well....
...Smith & Nephew goes up to “overweight” at Morgan Stanley. A V-shaped recovery in kneecaps isn’t in the price, they say....
...Because of its merger with Sprint in Apr-20, TMUS's portfolio of spectrum below 6 GHz is now c.3x that of Verizon and c.2x that of AT&T....
...“A lot of lenders moved away from accepting as much variable income as they did before the pandemic,” says David Hollingworth, director at mortgage broker L&C Mortgages....
...L&G's business is broadly resilient to COVID-19 shocks, in our view. The credit portfolio remains strong (with limited downgrades and defaults so far)....
...James Smith, economist at ING: A full 2021 recovery is unlikely....
...Rate relief drops away in FY22 so the recovery profile, in EPS at least, is not V-shaped....
...Against the general trend, yesterday Ferrari confidently guided to a V-shaped recovery in its P&L from H2/20....
...It gets straight to the point: We now assume an L-shaped RevPAR recovery (previously V-shaped), based on Jefdata consumer surveys, corporate guidance and industry forecasts. .....
...HSBC has some discussion about V and W shaped recoveries; its own model resembling “the Nike swoosh” is made by combining a proper V in mainland China forms and more of an L among Western European and American...
...Here’s Investec (sell) to summarise: [L]ockdowns are impacting consumption in North America (c. 30% of sales), Europe (c. 20% of sales), India (c. 10% of sales), Africa (12% of sales) and many countries...
.... (3) GTR Asia: 2/3 less passengers Feb/Mar, recovery from April, back to normal June....
...We initiate coverage of Energean which is building a diverse, gas-weighted production portfolio....
...Containment of the number of new cases has been impressive in mainland China, and we now expect a V-shaped recovery from the second quarter onwards there....
...The V-shaped recovery in consumer spending feels too bullish in our view....
...When we come out of this period of lockdown, we believe it will be into a V-shaped recovery (which remains our core case), and we will eventually end up with higher inflation as governments and central banks...
...We do not assume a V-shaped recovery in revenues and think hopes for directed fiscal stimulus on construction spending may be misplaced as funds (at present) seem directed to individuals / SMEs / healthcare...
...The top ranked future leader is Aritha Wickramasinghe of K&L Gates, the law firm....
...So an L-shaped recession in terms of trend growth but not the level of output....
...(c) to establish a National Economic Council, composed of representatives of the Parties and of the following sectors: (i) Manufacturing (ii) Agriculture (iii) Mining (iv) Tourism (v) Commerce (vi)...
...THE WORLD IS FLAT by Thomas L....
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