BlackRock: European economic recovery looks like a V — for now

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Which letter of the alphabet will the economic recovery in Europe most resemble? The world’s largest asset manager BlackRock is optimistic in its outlook for the region, with its chief investment strategist Martin Lück ruling out a U or a more pessimistic L in favor of a V-shape – at least in the first stage. Eurozone PMI data for June showed the downturn slowed significantly as the bloc emerges from the lockdown. The biggest threat to the recovery is second wave of the virus, which would be “disastrous,” he says.