2020 Top 500 ranking: 9
Read the complete white paper at the link beneath Related Files
With vaccination programs worldwide well underway, the spotlight has shifted now to the nature of the economic recovery.
We note progress on the vaccine front despite logistics and side effects issues. In our central scenario, equities outperform on the back of abundant liquidity, improving fundamentals and accommodative monetary policy.
March saw ECB increasing its PEPP purchases and injecting higher than expected liquidity through a successful TLTRO tender.
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