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Election Wildcard: The R-Word

In addition to supply chain problems and lower global growth, Coronavirus is creating uncertainty damaging to the business environment. Two points from the WSJ’s Daily Shot this morning…

· According to JP Morgan, the S&P 500 now implies a 57% chance of recession, while the 5yr Treasuries indicate an 86% probability.

· Goldman's US GDP tracker points to sub-1% growth in the current quarter.

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