If it is as bad as the GFC, the ASX will drop to around 3,600, page-26

there sure will be a bounce after shops re-open.....even with high unemployment, there is a pent-up demand for discretionary items like clothing

but I agree, there seems to be some unrealistic optimism on the part of the markets....with the exception of oil

despite OPEC-Russia-US output cuts, oil continues to slide...well below GFC levels...and that is the best indicator of near-future demand