Key Week for the Bottoming Process
Last week, we revised our economic and market forecasts as the war against the COVID-19 pandemic wages on. We are likely in recession now, though we won’t know that for sure until more timely data is released. What is clear, however, is stocks have priced in a recession. We offer our latest thoughts on the bottoming process and take a deeper dive into our updated economic and market forecasts.
WHERE WE ARE
The global COVID-19 pandemic is one of the most difficult human crises we have ever faced. In addition to the tragic human toll, containment efforts and uncertainty have caused significant economic disruption globally and driven stocks into a bear market for the first time in more than a decade. We will get through this, but it remains tough to see the other side from where we sit today.
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