The COVID-19 shock has catalyzed a historic policy response from monetary and fiscal authorities in the US and globally. Over the near term, we expect continued volatile markets as investors grapple with the virus’ evolution, the duration of social distancing policies and the speed at which macro policies announced gain traction.

This month's Macro Monthly examines the longer-term risk-return profile for asset classes beyond the current period of elevated volatility.

Read more about this in the latest edition of Macro Monthly.