Have a watch of the video below that I did for the Investing Channel in April 2019.

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From my perspective, there was always a high chance of a global slowdown occurring - the pandemic simply accelerated the effects.

Here was the state of the Russell Index when the video was made, versus what happened after.

The Russell is now trading higher, thanks to the liquidity pumped in by the Fed and the fiscal support provided by governments which has allowed for credit spreads to close a bit...

But the factors were in play already.

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Why Macrodesiac? Markets are far more than just lines and boxes on a chart. We assess risk sentiment, market narratives, and the broader economic landscapeto make better trading decisions. - β€˜Macro’ made simple- Analysis & commentary in plain English.- Experienced & sup…