In Brief

• The prospects of a meaningful curtailment of economic output, including reduced manufacturing and services activity, disrupted global supply chains, and reduced consumption has bled into the market sentiment and caused a sharp downward repricing of risk across asset classes and regions.
  
  
• Global earnings are expected to soften as a result of the virus.
  
  
• The markets are moving fast and high quality duration still is attractive for front end investors. Liquidity is and always will be the core of what we do.

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