Markets scenarios & risks – June 2020

We maintain the overall pandemic narrative confirming the probabilities, assigned to the base and alternative scenarios.

China has declared it won the battle against Covid-19 and its economy seems to be back on track. Though a second wave is still possible, China, Japan and other Asian countries have successfully managed new clusters so far. Lockdown measures are gradually lifted across Europe and the US while the rate of daily deaths of patients diagnosed with the virus continues to ease.

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