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Chart of the Week!

| September 09, 2020

Chart of the Week

                                                     Source: Goldman Sachs Global Investment Research and GSAM. As of July 31, 2020.



The summer rally was fueled by investors’ hopes of swift COVID-19 containment and economic recovery with unprecedented fiscal and monetary policy support. Early signs of recovery—decreasing jobless claims, unemployment rate, and reaccelerating economic activity—are contingent on virus developments. Our current expectation is for a sharp recovery in H1 2021, pushing the US back to 2019 GDP levels by Q3 2021.