i'm joined by jason trennert and julia coronado is founder of macro policy perspectives.od to have you both here. julia, let me start with you on the economy. i've seen second quarter gdp figures now of minus 10, minus 13%. is that outlandish or totally feasible >> it's not outlandish when we're talking about the economy, effectively grinding to a halt right now, as we speak, and this is going to last at least several months i don't think we're -- it's o outlandish to think we're going to see some of the biggest one-quarter drops we've seen in the post-war period. >> and this sets up for a unique challenge, because it's almost like the country was hit by a virtual meteor, right? there's a lot of talk about what happens kind of in the rebuilding effort, right in a way, that could be as tricky a period of time, if you're in the market, for example, by trying to figure out inflation and how to unwind some of these programs. i know i'm way ahead of myself here, but it's going to be a dicey few months >> yeah, no, it's a liquidity crunch in the real economy so businesses are l

joining us now, stephanie link, ceo jason trennert and chris harvey mike first to you though i mean asust mepgsed from the monday lows, this has been a ferocious bounce back albeit no one we can confirm will continue yet. >> that's right. from below 2200 of the lows of this week on monday to about 2600 and really virtually in a straight line. this market does this. it goes relentless in both directions i think once you get a trend turn and by the way, i also say when we were grinding high er i a tight uptrend before the highs, it also was this habit of doing that while i say we're still in the bounce zone, you're still looking at a chart that says okay, fine, this makes sense we're not even back to where we fell off a cliff a couple of weeks ago from around 2700 so that's why i think we're getting up to a point where the market is rushing up to its next test, but so far, so good. >> maybe we've lost sara again we'll get her back jason, i'll come to you. clearly as mike said, a really big bounce we've seen off the lows do you make this out to be the start of a more pronounce d prolonged

gabriel santos is here, jason tren ne trennert is here when we spoke to mohamed el erian, he is tellingbody do not buy the quote, unquote dip. today we will have a major one the other question on the other side, by the way, people worry it's irresponsible to ask to even talk about it, do you think the market is going to go down 20%. if you think the death rate in the united states and the coronavirus is going to go up, what do you do >> we're setting up for a difficult day. we think it might be a difficult set of few weeks actually before we get any sort of visibility into development of the new cases of the virus, the counter measures in terms of containment of activity to contain the virus as well as any sort of response from central banks and from fiscal authorities so it might be a difficult few weeks here. our approach is twofold. in terms of focusing in the shorter term, being able to weather this difficult period, we need to be able to have protection in portfolios we still think treasuries are a good protection. we can see there is no floor to how low yields can fall when there