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Second quarter recovery? Markets aren’t too sure about that

A lot of concerns are hanging over the U.S. economy right now after a disappointing start to the year, but optimists are pushing them aside with one bold argument: The second quarter is going to be so much better.

With the quarter’s activity now taking shape, are these upbeat views realistic?

There is a lot at stake here. The S&P 500 has risen more than 180 per cent over the past five years without sustaining a correction of 10 per cent in nearly three years.