The point being that covid recovery isnt actually going to happen in the short term.
We have bad fundamentals, and economic turbulence all on the back of covid. France thought they were covid free, just like the rest of europe, and now it is firing up again worse than before as they head into winter.
Compare that to our situation here. We either stay in lockdown forever which is bad for the economy, or open up, and eventually see a resurgence in covid cases (we have locked down for good or bad, and I think doing so again would definately cause economic bedlam), or we get a vaccine which if it operates anything like Flu vaccine, will be at best slow the infection rate and at worst, do nothing.
The economic situation is best described as turbulent. If the banks hadnt fallen a fair way, I would have said buy, but I am back in a hold situation, because the only reason to buy is price. Thing is, the outlook is at best not going to change significantly and we wont see normality return but a covid normal.
The big question there is much tied to fortune telling than anything else. I worry that when march comes around we will see case numbers surge. With europe experiencing some economic turmoil, all eyes turn to asia to see how they far over the coming months to see if they have a resurgence. If china start having swelling numbers....
WBC Price at posting:
$17.38 Sentiment: Hold Disclosure: Held
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