Rather than a V or a U or even a swoosh, the virus’ resurgence could mean the U.S. is looking at a W — meaning economic growth begins to rebound before falling back into recession.

What they’re saying: “The shape of recovery will be determined by whether we get ongoing fiscal stimulus and whether we are able to tamp down on the virus,” Kristina Hooper, chief global market strategist at Invesco, said Monday during the Bloomberg Invest Global conference.

“The ability to control the resurgence of the virus … that requires extensive contact tracing infrastructure.”

“If we’re not able to effectively do that we could see the reimposition of lockdowns and we could also see an erosion of consumer confidence.”