After 6-trading days in a tight 125-point / 2% range the ASX200 gave any complacent investors a quick COVID-19 shot across the bow as the local market tumbled -2.5% on Thursday. The catalyst for the selling was the increasing cases of coronavirus creating serious doubt in many investors’ minds around how quickly the global economy can put the pandemic well and truly in the rear-view mirror. Our current opinion at MM is equities did get slightly ahead of themselves in writing off the virus but we’re better prepared for secondary outbreaks plus of course every week that passes is a week closer to a vaccine Hence MM remains buyers into weakness. Plus, to help us all from an investing perspective we’ve now got a potential road map of sector performance from March until today.
