Coronavirus (COVID-19) research compilation from Michael Cembalest, Chairman of Market and Investment Strategy.
Ultimately, how high the unemployment rate gets is dependent on one key question: will American small business fire its workers, says Manley.
The COVID-19 outbreak has pushed the global economy into recession and equities likely have further to fall. We are overweight cash and duration and modestly underweight equity and credit. We expect to stay nimble in our relative value positions.
Why cash is king and communication is critical.
The Paycheck Protection Program of the CARES Act provides relief primarily to businesses and nonprofits with up to 500 employees.