May 22, 2020

A ferocious bull market awaits, market leadership to see major shift: Ridham Desai

Ridham Desai, Managing Director at Morgan Stanley India, pointed out that COVID-19 has evinced a very strong fiscal and monetary response the world over and it is quite unprecedented as the world has never seen such a response.

"Even during World War II and in the aftermath of it, we did not see coordinated policy response either across geographies or across agencies. It is multiple times more than the stimulus that was put after the global financial crisis of 2008-09. When we come out of this, all the stimulus waiting to kick in, it is going to create a ferocious bull market around the world," Desai said.

"An unprecedented stimulus has been put in place that is waiting to find its way into the market as well as the economy once the confidence returns. What is required is essentially some comfort that the worst of COVID-19 is over, or more appropriately, we have a vaccine or a cure. So, when the world starts sensing that we have the cure, I think money is going to move into the asset markets," Desai added.


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