With US reopenings in question, look to defensive trades like Treasurys and gold: Allianz

The rise in U.S. hospitalizations and squeeze on hospital capacity is making both markets and consumers nervous, says Mona Mahajan of Allianz Global Investors. She says that the reopening narrative is "intact to some extent" in the longer term, but that reopening trades will not come back into play until cases have stopped rising.
Fri, Jun 26 20207:13 AM EDT