High-yield bond issuance cratered with the onset of COVID-19 in March, then rebounded sharply in April.

It took nine years to add 21 million US workers to payrolls; COVID-19 wiped them out in two months.

The onset of COVID-19 also signaled the expansion’s end; 1Q GDP slumped 4.8%, worst since 2008.

When secondary leveraged loan prices cratered last month, the resulting distressed volume outweighed all 2008-09 loans.

Defensive industries such as business services, healthcare, tech, and A&D led all sectors in 1Q M&A volume

Last month’s early price plunge was three times worse than the Great Depression.

US jobless claims totaled 10 million in two weeks; it took six months to hit those levels during the Great Recession.

A recent Refinitiv lender survey revealed expectations of a quick COVID-19 resolution is unlikely.

No question future growth will be off big-time; just how bad, and for how long, is unknown.

The average bid for the most liquid leverage loans cratered as the effects of the coronavirus have taken hold.