Developed market economies, which came to a sudden stop during the pandemic lockdown period, entered the recovery phase in May.
April was marked by a rally in equities as COVID-19 infection rates peaked.
In the history of financial markets, there has never been a quarter like Q1 2020. The outbreak of COVID19 has pushed the global economy into a sharp downturn.
After equity markets reached all-time highs, hopes of a quick resolution of the coronavirus outbreak faded with the growth of new reported cases across the globe.
All major asset classes, particularly global equities, enjoyed attractive returns in Q4 of 2019 in an environment of improved risk sentiment globally.