Lure of the bargain and endless stimulus defeat GDP bears
Australian shares have defied concerns of an imminent recession, as the wave of global economic stimulus floods the equity market and gives investors confidence to back beaten-down stocks at prices unseen since the financial crisis.
The International Monetary Fund warned earlier in the week the Australian economy would sink by 6.7 per cent in 2020 as coronavirus containment measures strangled domestic growth, marking the first recession in Australia for nearly 30 years.
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