The disparity of the financial markets
Since the economic crisis triggered by the coronavirus began, with the sharp falls in the financial markets in March, we have witnessed a very significant recovery in the most efficient and flexible geographies, as is the case of the United States, Britain and Switzerland. The same has not occurred in weaker geographies, as is the case in many emerging economies or even some European ones.
The reality is that this substantial improvement in the world’s most important financial markets contrasts significantly with the economic reality of their economies. Economic expectations have improved substantially, but actual economic data remains very depressed.