The economy is set to face headwinds
Despite the rebound in equity prices, and what appears to be some positive news on the medical front, the outlook for the global economy remains downbeat. As countries shut their borders and ordered ‘shelter in place’ to prevent the spread of the virus, global trade fell, weighing on economic activity.
On the heels of the economic slowdown, unemployment rates in a number of developed markets are expected to exceed 10%, some possibly 20%.
Additionally, there is strong evidence that the global economy is headed into a recession for the first time in more than a decade.
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