A swath of big name hedge fund managers have been skeptical of the stock market's swift bounce back from its March low.
A swath of big name hedge fund managers have been skeptical of the stock market's swift bounce back from its March low, arguing equity levels aren't pricing in the horrible economic data yet to come and the uphill battle of developing a cure for Covid-19."The big hedge fund guys who told us that this was going to be the highest and worst and most dangerous since 1999, well they made an ill-advised prediction.
Stocks are soaring on Friday on news the U.S. added 2.5 million jobs in May, the biggest increase on record, demonstrating the economy has already started to recover from the coronavirus crisis. The unemployment rate declined to 13.3% according to data from the Labor Department that was far better than economists had been expecting.
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