The coronavirus crisis six months on

Today marks six months since the coronavirus crisis started to weigh heavily on global markets. Although the S&P 500 is now back where it was on 19th February, many sectors of the US market, equities elsewhere, and other assets remain a long way below their pre-pandemic peaks, while a handful are far higher. We expect many of the patterns in relative performance seen over the past six months to reverse over the next few years.