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By Mark DOWDING, CIO at BlueBay Asset Management
As the macro backdrop remains broadly unchanged, the influence of politics begins to loom large over markets. Over the past week, equity markets and core government bonds have generally traded in a sideways fashion, digesting mixed newsflow with respect to economic data, the coronavirus, geopolitics and policy developments. US retail sales rose more strongly than expected in May, reversing a substantial portion of the prior month’s losses.
Nevertheless, GDP estimates for Q2 remain down around 30% and other economic data, such as weekly jobless claims, continue to underline the hit to activity which is being felt, with much of the economy still going through significant adjustment, even as...
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