“The amusement park rises bold and stark, kids are huddled on the beach in a mist. I wanna die with you, Wendy, on the streets tonight in an everlasting kiss.” Clearly Bruce at his prophetic best and sounding positively post COVID-19 for sure. Not bad for a song penned in the early 1970’s. Springsteen may have had powerful foresight, but it is hidden very deeply in his lyrics. Perhaps that is a little like deciphering markets from the clues set out in the economic data. It is easy to misinterpret signals or to over emphasise the wrong things. Amidst the volatility, however, it’s worth remembering that a rebound in markets should not be confused for an economic recovery. We have much further to run yet.
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