A lot depends on the 'tug of war' between government stimulus and fundamentals, he told CNBC.
Toogood said that a lot depended on the "tug of war" between government stimulus and fundamentals.
"The fundamentals are going to stink, there is no question the earnings are going to be extremely challenging. And the bridge is the fiscal stimulus.", is expected to take a significant hit from the pandemic, with the IMF predicting gross domestic product in the United States will contract by 5.9% this year. In a bid to mitigate the economic impact of the crisis, Congress has approved aToogood said that many fund managers remained invested in U.S.
Investors were now attempting to work out whether they would need to dismiss 2021 corporate earnings, as well as this year's, he added. Government-imposed lockdown measures, coupled with supply and demand shocks from the coronavirus crisis, hit corporate earnings in the first quarter. A slew of U.S. companies, including
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