As we proceed into the second half of 2020, global markets, economic data and rising COVID-19 case counts may seem rather disorienting.
The coronavirus and associated lockdowns have clearly taken a heavy toll on the performance of the global economy. Yet, apparently undaunted, equity markets closed the second quarter offering reassurance in the form of record gains.
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Nathan Sheets is chief economist and head of global macroeconomic research at PGIM Fixed Income.
