Contemplations from Nordic heavy hitters – Tuomas Virtala

<strong>What have been the biggest surprises over the past year?

“The biggest surprise was naturally Covid-19 and how quick, widespread and serious the pandemic became. Not so surprisingly, this led to severe market reactions in February and March with equity markets dropping very quickly by over 30 per cent and credit markets both falling and also virtually shutting down globally. Also, the bounce back was an expected reaction after such extreme market movements – what was surprising, however, was that the comeback has been pretty much uninterrupted since it began at the end of March 2020. What is also somewhat surprising is how resilient the economies have been – especially