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PROSPECTS FOR A SWOOSH-SHAPED RECOVERY

The strongest 50-day rally in the S&P 500 in over 70 years has sent a signal that the economic recovery is gaining steam and may look more like a ā€œVā€ than a ā€œU,ā€ a square root, checkmark, or swoosh. We assess the probabilities of these various scenarios for recovery and reiterate our 2020 economic growth forecasts.

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