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A Bounce Is Not a Recovery

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A Bounce Is Not a Recovery
People drink outdoors at bars and restaurants in the Hells Kitchen neighborhood of New York on June 7, 2020. Bryan R. Smith/AFP via Getty Images
Daniel Lacalle
Updated:
Commentary

The recent improvements in global PMIs (Purchasing Managers’ Index) and especially in employment in the United States have created a strong optimism in markets about the recovery.

Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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