Last night’s news from Europe of Q4 GDP has confirmed what was virtually a global recession. It’s only six weeks ago and the current surge of optimism makes it seem like it never happened but the majority of the world was in recession in December with Japan, the Eurozone and the US all shrinking in the quarter:
That’s roughly 55% of the global economy. History now of course but if does put in context the current share market rebound. The steep trajectory is similar to 2009 for a good reason.