Cliff Notes - The 2nd Wave

June 15, 2020

In This Week's Update - 

  • Markets declined last week on renewed fears of what a 2nd coronovirus wave portends.
  •  Measures to contain the virus are gradually being eased in many developed economies.
  • May’s data suggested the worst of the contraction may be behind us, but we see a bumpy restart in coming months. We are tracking the interplay of containment measures and mobility changes on activity as economies have started to reopen.
  • The unprecedented policy response has boosted markets, leaving a potential second wave of infections and policy implementation as key risks. U.S. Congress is headed for a fiscal cliff as jobless benefits, state support and payroll protection measures are expiring soon.

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