What a difference a few weeks make! In our blog post mid-March, we mentioned the capital markets can move upward with the same ferocity of the initial sell off. This is exactly what we have experienced over the last two months. Investors have been asking how the S&P 500 can trade close to pre-virus outbreak levels and the economic shutdown, even though we have entered a recession. The trending data on the medical front along with a massive stimulus policy and continued fiscal easing have fueled the recent rally. The attached charts and commentary from our partners at LPL Financial illustrates the optimism. While we continue to plan for potential volatility in the coming months, the Covid-19 trends in North America, Asia and Europe have all been moving in the right direction.
Hope you and your family are enjoying the beginning of warmer days!
Jay
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