Has the coronavirus-hit global economy seen the worst of the crisis? It’s too early to tell

Has the Covid-19-ravaged global economy turned the corner? Over the past few months, financial markets have been betting that it has as nationwide lockdowns are eased in Europe and the United States. The MSCI World Index, a gauge of stocks in advanced economies, has risen 12 per cent since mid-May, turbocharging a rally that began in late March when leading central banks launched massive stimulus measures. Yet, signs that the world economy is over the worst of the coronavirus crisis are…

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