Lower interest rates, V-shaped bounce justify current share prices: Harbour

Wed, 10 Jun 2020

There is probably no disconnect between equities markets and the real economy, even after the recent sharp rally, because the fall in interest rates has been a greater force than the expected fall in corporate earnings, said Harbour Asset Management managing director Andrew Bascand. The S&P/NZX 50 Index has jumped more than 30 percent since its low point on March 23 and the US S&P 500 Index has made similar gains. "This is a health crisis so far – it might develop into an economic crisis," Bascand told an online meeting of the CFA Society...

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