Now what?

Once the lockdown is lifted, we will need the mother of all fiscal and monetary policy support to sustain the economy

Given the total shutdown across the world, with most major economies imposing some form of lockdown, the obvious question on the minds of investors is, how long will this lockdown continue, and at what cost?

The Covid-19 disease has extracted a huge price from the global economy. We are at over 600,000 cases and 30,000 deaths. The disease continues to spread quickly, with cases doubling in many jurisdictions every three days. The world is going into a recession, and most indicators show far steeper falls in economic activity than even during the global financial crisis. Many commentators expect a 25 per