One also has to understand that the market bottoms out much sooner than the economy and that has always been the case. If one is going to look at pure GDP numbers then one will doubt this rally, says CIO Manish Singh.

“I’d say it’s just profit taking and re-assessing,” said Manish Singh, chief investment officer at Crossbridge Capital. “The risk is still to the upside as economies keep re-opening more and more. Remember the fiscal and monetary support will stay long after things have opened up. We might see a lull over summer months but Q3/Q4 is looking bright.”

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