As if the further spread of coronavirus (COVID-19) wasn’t enough for equity and fixed income markets to contend with, the collapse in crude oil prices has exacerbated volatility and heightened economic uncertainties. The S&P 500 has fallen 19 percent from its mid-February peak, government bond yields have dropped to record-low levels, and crude oil is down almost 50 percent year to date. Markets are having a difficult time gauging the potential knock-on effects of the coronavirus and crude oil rout for economic growth as well as corporate sales and profits, and the impact of funding for businesses. Following are thoughts about key aspects of this challenging period from RBC economists and strategists, and the Global Portfolio Advisory Committee.

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