Market update from Antipodean Advisory. How did the economy behave after the carnage of March?
After March’s carnage, equities markets roared back in April, driven by fiscal stimulus and the apparent slowing of the spread of COVID-19. The S&P 500® gained by 13%, the best monthly performance since January 1987. The S&P/ASX 200 had its best month since June 2000, posting a return of 8.8%. While still relatively high, volatility calmed. International markets also recovered, with the S&P Developed Ex-U.S. BMI and S&P Emerging BMI up 8% and 10%, respectively.
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