“THEY DON’T RING A BELL” – VIRUS CURVES HAVE FLATTENED AND ECONOMIES ARE SCRAPING BOTTOM. HAVE WE REACHED THE LOW POINT?

They don’t ring a bell at market tops or bottoms. That’s an old stock market expression, meaning it’s only in hindsight that we know when the stock market peaks or bottoms. Today, the ringing bell we hear is signaling the re- opening of the global economy. It allows individual countries, believing they’ve been success- ful in their battle with the novel coronavirus COVID-19, to let citizens resume their pre- virus lives. Maybe we’re marking a bottom.

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