Searching for Safety
This month’s macro deck summarizes the impact of the COVID-19 epidemic on global economic forecasts and on financial market prices. Beyond temporarily lost output, interrupted supply chains, a sharp decline in travel and tourism, and declining consumer confidence, the ripple effects have just begun spreading from Asia to Europe and North America.
Jacques Gordon
Global Strategist
**Dan Mahoney
**Senior Strategist
**Elysia Tse
**Head of Research & Strategy, Asia Pacific
