Zemsky: Economic Impact Of Coronavirus In U.S. Likely To Be Small
Voya Investment Management CIO of Multi-Asset Strategies and Solutions Paul Zemsky was on CNBC discussing what impact the coronavirus was likely to have on the U.S. economy. Zemsky acknowledged that “first quarter data is going to look lower everywhere around the world,” but he anticipates a “v-shaped” rebound in the short-term. Zemsky notes that the U.S. economy does not rely heavily on China, the center of the outbreak, which should mitigate any potential impact. Looking forward, Zemsky believes stocks are “a little bit cheap compared with 10-year Treasuries,” especially as earnings growth continues to be strong and interest rate expectations remain muted.