Nomura’s Charlie McElligott On The Rally And The Future Of Macro

Growing consternation about the state of Sino-US relations notwithstanding, equities are remarkably resilient. US stocks have held onto the majority of the dramatic ~30% bounce off the March nadir, even as the data betrays the depth of the recession and headlines about a "second wave" of the virus are a fixture on the nightly news. Although Wednesday may be blighted by ongoing escalations with China, four of the past five sessions have been strong indeed. On Thursday, Nomura's Charlie McEll