The Transcript 06.15.20

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Succinct Summary: We are clearly in a recession with very low visibility on how we are going to come out of it. Companies are also seeing consumers move away from credit as they also shift away from discretionary spending. On the positive, there are some promising signs of recovery as shorter cycle businesses like auto come back. 

The Transcript 12.16.19

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Succinct Summary:  The consumer continues to show strength with higher holiday spending. Business spending isn't quite as strong though but companies, especially small businesses, are optimistic. As such, most CEOs don't expect a recession in 2020.  Historically, presidential election years are usually good for the stock market.