The Economy is...😬😬

Historic GDP Drop, Small Business BK, Denbury Resources & More

The gross domestic product figures released earlier this week presage more economic pain to come. A historic (annualized) 32.9% drop in Q2 ‘20 GDP coupled with (i) a 1mm increase in continuing weekly jobless claims (read: those collecting assistance for at least two weeks) and (ii) current consumer confidence trends paints an ugly picture.*