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First Trust Exchange-Traded Fund III Horizon Managed Volatility Developed International
By Daniel Lacalle
In February, the general consensus between large investment banks and supranational entities was that there would be a one-time hit to GDP in the first quarter due to the impact of the coronavirus, followed by a stronger, V-shaped recovery. The IMF expected a modest correction of global GDP of 0.1 percent, and the largest cut on estimates for 2020 growth was 0.4 percent.
Those days are gone.
The latest round of global growth revisions includes a slash of growth estimates for the first and second quarters and a very modest recovery in