“With Asian stocks soaring in the face of dire PMIs and continuing country closures, MLIV brings you this public service announcement:
Be careful of bear-market rallies! They can be massively powerful and lure investors back into assets they will later regret buying.
Tuesday’s surge in risk appetite again looks dangerously overblown at a time when it looks way too early to call the bottom for many assets. More sedate rallies would be much more reassuring than the current wild rebounds.”