Why markets do collapse they not? The latest statistics on economic growth in the first quarter were appalling throughout the world. They show a contraction of the exceptional global wealth produced and its main components, exports, consumption and investment. These figures are unprecedented since the Second World War they should frighten. And yet ... Contrary to what one might expect to face such a disaster, markets do not collapse. Just they have started a movement of consolidation following a tremendous recovery of nearly 30% since the end of March, matching the low point reached by the indices. Why? This can be explained by what one might call the magic of the second derivative.

Tags: financial, investment, markets, of financial markets