Greetings,
United States: How big of a GDP decline should we expect in the second quarter? Projections vary. Below is the distribution of forecasts tracked by Bloomberg (some haven’t been updated yet).
Here is JP Morgan’s forecast.
And then there is Morgan Stanley.
Eurozone: Germany seems to be following Italy’s coronavirus trajectory.
Emerging Markets: Global investors are rapidly exiting EM bond markets.
Energy: The Brent curve is moving deeper into contango.
Equities: Defensives relative to cyclicals have peaked five times in the past 25 years – and have signaled market lows, according to Stifel.
Food for Thought: Pantry items sales:
Edited by Daniel Moskovits
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