Thornburg Investment Management's Jeff Klingelhofer in

Why the chances for a ‘V’-shaped economic recovery are getting less likely by the day


  • Markets are trying to price in a ‘V’-shaped recovery for the economy, but that scenario is getting less likely.
  • Damage done to consumers and small business, as well as high debt loads, will act as headwinds.
  • “I think a ‘V’ is possible, but I am worried that the outcome will be worse,” former Federal Reserve Chair Janet Yellen told CNBC.

The abrupt halt in large parts of economic activity has spurred hopes, as indicated by Monday’s market rally, that when the growth engine is turned back on, the U.S. will be turbo-charged and ready to roar.
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