Lots of bank research notes are coming in...>

US VIEW: Lots of bank research notes are coming in and showing some have

'slashed' their US Q2 GDP estimates but most see a recovery in Q3 as impact from

Coronavirus fades: Below are some views from major houses: 

- BAML says it believes that the "US economy has fallen into recession" and now

expect Q2 to collapse 12% q/q saar vs 0.5% growth in Q1. "Although the decline

is severe, we believe it will be fairly short lived. We expect the economy to

return to growth in Q3. For the full year, we forecast a contraction of 0.8%,"

BAML wrote.

- JP Morgan are slashing their US forecast for real annualized GDP growth in Q1

to -4%, followed by an even weaker -14% in Q2. JPM see growth partly recovering

to 8% in Q3 followed by 4% in Q4. 

- Deutsche Bank see US Q1 GDP unchanged at 0% Q/Q SAAR but Q2 estimate revised

to -12.9% from -0.6%.