The global economy is in the midst of the worst downturn since the 1930s. China's real GDP plunged a record annual rate of 33.8% quarter on quarter (q/q) in the first quarter of 2020. On a comparable basis, IHS Markit estimates that US real GDP will plummet a record 36.5% or more in the second quarter. Modest recoveries are expected in subsequent quarters. For calendar year 2020, we project real global GDP to fall 5.5%. This is more than three times the contraction in the 2009 aftermath of the Global Financial Crisis. Given the unrelentingly bad news and data on the coronavirus disease 2019 (COVID-19) virus and the ... (full story)