OK, Zombies?

(1) Ugly followed by uglier earnings data. (2) Looking past the bad news. (3) RPS and EPS should start recovering during Q3, but new highs unlikely until 2022. (4) Consensus earnings estimates for 2020 and 2021 getting cut at slower rate. (5) S&P 500 forward earnings up for the past two weeks following weekly drops since early March. (6) Analysts may not be pessimistic enough about revenues, thus exaggerating likely drop in profit margin. (7) Flash credit crunch in March followed by surge in corporate bond issuance ytd! (8) That’s despite a wave of downgrades and defaults. (9) Warren Buffett thanks the Fed. (10) The biggest Fed Put of all times.