Asset prices in The Monday Briefing
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Recessions and shocks change the structure of the economy, accelerating the adoption of technology and new ways of working. Shrinkage in some sectors is accompanied by growth in others. The ‘K-shaped’ recovery is not new.
Strange though it might seem, amid the greatest economic downturn since the Depression, equities have soared. Markets had a dreadful start in 2020. The dawning realisation that the world faced a global pandemic triggered a crash, with global stocks losing a third of their value in the five weeks to 23 March. Since then, equities have staged a comeback, rising by 70% and shrugging off a rising death toll, the discovery of new, more contagious variants of the virus, further lockdowns, Brexit and America’s political turmoil. The world economy is significantly smaller today than it was a year ago, while global equity markets are 12% higher.
Join our next fortnightly COVID-19 webinar on Thursday, 3 December, at 13:00 GMT. We will discuss the impact of COVID-19 on the future of the city and what this means for the high street. Register here: https://event.webcasts.com/starthere.jsp?ei=1365454&tp_key=8f4d835e66&sti=mmb
Faced with choosing to write about the US elections or the lockdown in England in this week’s briefing we are doing the obvious thing and covering both.
Join our next fortnightly COVID-19 webinar, focussing on building resilience, on Thursday, 5 November, at 13:00 GMT: https://event.webcasts.com/starthere.jsp?ei=1365454&tp_key=8f4d835e66&sti=mmb
Governments around the world have responded to the pandemic by borrowing, and spending, on a vast scale, equivalent to 12% of world GDP. Twelve years ago, in the financial crisis, monetary policy did the heavy lifting in supporting growth. Now, with interest rates near zero, the burden has fallen on fiscal policy.
Join our next fortnightly COVID-19 webinar on Thursday, 22 October, at 13:00 BST where we will cover public health and economic developments in China, Germany and the UK. Register for this and our upcoming webinars: https://event.webcasts.com/starthere.jsp?ei=1365454&tp_key=8f4d835e66
The COVID-19 Economics Monitor provides a succinct, easy-to-navigate guide to the global health, economic and financial impacts of the pandemic: https://www2.deloitte.com/uk/en/pages/
Governments across Europe face a hard balance between public health and economic activity as they combat a resurgence in COVID-19 cases.
Join our next COVID-19 webinar this Thursday 24 September, 13:00 BST with our regular speakers Ian Stewart and Karen Taylor assessing where we stand on the economy and public health. We will also be joined by Rick Lester, COO, Risk Advisory, and Paul Lee, global head of TMT research, discussing the return to work and how it’s been assisted by technology. To register for this 30-minute webinar please visit: https://ukinfo.deloitte.com/
A personal view from Ian Stewart, Deloitte's Chief Economist in the UK. To subscribe and/or view previous editions just google 'Deloitte Monday Briefing'.
Following a break over the summer our COVID-19 webinar returns this Thursday, 10 September, at 13:00 BST. Our regular presenters, Ian Stewart and Karen Taylor, will assess where we stand on the economy and public health as we head into the final quarter of the year. To register for this 30-minute webinar please visit: https://ukinfo.deloitte.com/kR0Ew0250MA02GQmQr01U0I