United States: Bank of America now sees the GDP contracting by over 10% for the whole year.
Eurozone: The number of new infections in Italy is gradually trending lower.
China: The PMI report from Markit shows China’s service-sector business activity still in decline (PMI < 50), but the rate of contraction has moderated.
The labor market faces substantial headwinds.
Equities: Goldman’s base case is a 33% decline in the S&P 500 earnings-per-share this year.
Rates: The Fed’s balance sheet continues to climb at an unprecedented rate as the central bank buys Treasuries and agency MBS.
Food for Thought: COVID-19 patients hospitalized:
Edited by Daniel Moskovits
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