The chances of a global depression are growing as the coronavirus spreads and forces economic contraction, according to Scott Minerd, chief investment officer of Guggenheim Partners. “This thing could spiral into something akin to a global depression,” Minerd said in a Bloomberg Television interview on Monday. “That risk is not remote at this point. I would say we have at least a 10% or 20% chance of that.” Minerd has warned for weeks that markets and the broader economy face shocks from the spreading coronavirus. Stocks plunged, credit spreads widened and volatility soared Monday following the Federal Reserve’s ... (full story)