Making sense of the recovery

The recent economic acceleration is encouraging, but below the hood, palpable risks still loom

After a difficult few quarters, India’s public health and economic landscape is witnessing a discernable inflection. India’s new daily cases, deaths and positivity rate have all halved since mid-September. This should elicit much relief, but not complacency. The dramatic resurgence of the virus across Europe and the United States just confirms that as soon as countries let their guard down, another vicious wave is upon them. Daily cases around the world are now the highest since the pandemic began. Daily deaths have doubled over the last month and are poised to rise ominously. 

So while equity markets are gripped by the