LONDON/BENGALURU (Reuters) - The blistering rally in global stock markets is set to continue for at least six months, albeit at a shallower pace, amid hopes more cheap cash and a COVID-19 vaccine allow economies to heal and corporate earnings to recover, a Reuters poll found.
With the coronavirus pandemic sweeping across the globe, economic activity ground to a halt as governments forced citizens to stay home and businesses to close, disrupting supply chains.
That collapse led to unprecedented levels of fiscal and monetary stimulus and with that cheap money supply set to continue, around 75% of respondents to an additional question said the bull run would last at least six months.
While around 1.4 million people have died globally from COVID-19 and the Northern hemisphere is experiencing a second wave, expectations were pinned on effective vaccine developments, and around 80% of respondents said their forecasts were based on the progress.
The tough lockdowns imposed by governments put a big dent in company profits but hopes a vaccine will allow some return to normality led around two-thirds of respondents to say corporate earnings would return to pre-COVID-19 levels within a year.
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