The pandemic has served to synchronize business cycles. In the first instance, it was a body blow to economies. After the first shock, it is a question of containing the outbreaks, ensuring the financial markets and bank functions have normalized to facility the economic recovery. It appears March and April were the worst and that subsequently, economic activity has gotten less bad and some early signs that an expansion may be taking hold. It is early and uneven, but it is real. Even in the US, which on the whole, appears to have done an unreasonably poor job of containing the virus, data, including the first set of ... (full story)