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market | IST

COVID situation, emergence of second wave spooking markets: Market strategist Jonathan Schiessl

Jonathan Schiessl, emerging market strategist, shared his views and outlook on global markets, US elections as well as on Indian market.

Jonathan Schiessl, emerging market strategist, shared his views and outlook on global markets, US elections as well as on Indian market.
“We are reasonably bullish about the prospects over the medium-term to longer-term but there had been some complacency in markets to the risks that were building. So I wouldn’t rule out new highs in the year,” he said in an interview with CNBC-TV18.
According to him, with this uncertainty and volatility, markets will probably be more on the softer side for the next couple of weeks. “The COVID situation and this emergence of the second wave is spooking markets,” he said.
“There were many other markets who did believe we wouldn’t see a proper circuit breaker or a major re-shutting of the economies in the Europe or US, some people are now thinking that might be a possibility. That is why we are seeing some profit booking but my view would be we are unlikely to see a follow-on lockdown again but who knows,” he added.
Speaking about Indian market, Jonathan mentioned, “The data seems to be looking pretty good at the moment with regards to the COVID-19. The economy seems to getting a steadier footing. Investors do want to start investing more back into emerging markets. Investors would be looking to increase allocations into emerging markets and basically markets like India going forward. India looks quite attractive but we hardly had any correction in India yet.”