Emerging markets offer many attractive firms that offer growth regardless of conditions in their domestic economies, say New York asset managers Jennison Associates.

The way governments have acted to deal with the pandemic has come as a shock to all of us. A big shock. They have thrown money at the problem on a scale rightly compared with that of fighting a world war, abandoned any pretence of thrift in public affairs, and ordered about their citizens like schoolchildren. With hardly any opposition.