Covid-19 no longer a short-term headwind, could last over a year

THE worsening of the Covid-19 pandemic situation globally in April turned the idea that the virus-related volatility is a short-term one on its head.

At the start of April, many portfolio managers believed the novel coronavirus would pose a short-term headwind and offered a good opportunity to get into stocks at compelling valuations.

The prognosis turned bad in the span of a month, with analysts and fund managers now believing that the road to recovery will be longer than expected.