This weekly update provides a snapshot of changes in the economy and markets and their implications for investors.
Just as headwinds from trade policy were beginning to dissipate, the outbreak of COVID-19 has pushed the global economy into recession.
The US economy is now entering recession. Initial jobless claims – a measure of the number of new filings to receive unemployment benefits – rose to 3.283 million for the week ending 21 March.
This quarter has not been an easy one for most investors.
A summary of the factors driving global markets over the last month.
We raised the probability of Recession to 55% after virus-induced shocks, oil prices’ collapse and violent market volatility. We are de-risking, adding very high quality duration, while expecting credit markets to cheapen and reserve currencies to do well
Guide to the Markets