‘Those numerous analysts who warned of a dead-cat bounce have so far been proved wrong. A survey by CNBC found that a fifth of global Chief Financial Officers think the Dow Jones will continue to rally, without major declines along the way. However, more than half now believe the index will soon crash below its March low of 18.591.
"There's going to be a meaningful correction once people realize this is going to be a U-shaped recovery," Nouriel Roubini, professor of economics at New York University's Stern School of Business, told New Yorker magazine last month. "If you listen carefully to what Fed officials are saying — or even what JPMorgan and Goldman Sachs are saying — initially they were all in the V camp [V-shaped recovery], but now they're all saying, 'well, maybe it's going to be more of a U'."
Read here (DW, June 4, 2020)
