GIULIETTA TALEVI: Is the market miscalculating the recovery?
The realisation that this could be a protracted imposition in our lives seems to have dealt the stock market a dose of glum reality, after a couple of weeks of euphoric gains
Until last week’s lockdown extension, South Africans would have been preparing to burst forth from their state of isolation tonight. It threatened to be an explosion of vuvuzelas, trumpetted while you cracked open the last bottle of whatever it was you’d been saving for the occasion. (Or the last bottle that you were confident enough to drink, in the expectation that, mercifully, your local bottle store would be open the day after.)
Instead, here we are, grimly getting on with the business of not doing very much at all...