Q2 2020 Macro Presentation - "Phase Change" | July 21, 2020
On July 21, 2020 Narwhal Capital released its Q2 2020 Macro Review and Outlook. The commentary contained therein is the firm\u2019s opinion at the time of publication and not intended to be investment advice.
Our theme for this quarter is \u201cPhase Change.\u201d Just as matter phase transitions exist \u2013 ice to water, for example \u2013 there are also economic and financial phase changes \u2013 from bullish to bearish, or recession to expansion. This presentation attempts to map out what the current phase transition looks like.
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