Fast & Furious

The IMF in its April World Economic Outlook is projecting global output to contract by -3% in 2020 and is forecasting growth of 5.8% in 2021. For advanced economies, the IMF is calling for a contraction of -6.1% this year, and growth of 4.5%, next year; emerging markets are expecting 1% contraction and 6.6% growth, respectively. The stock market is pointing to a fast and furious turnaround at the moment. Did the market bottom on 3/23, is the recovery underway? Or, will it end up being a false positive?

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