Let’s Get Back to Work

May 11, 2020

  Focus on the impact of the COVID crisis and the pace of re-opening of the world economy has made the first quarter earnings reporting season somewhat less impactful than usual. The sharp downturn in economic activity made forecasting difficult and even many companies were unable to accurately provide guidance on the impact on their …

Replenishing

May 4, 2020

  Incremental social and economic activity continues across the globe.  Some harder hit countries and specific areas of the United States will take longer to re-open, but the transition can be seen as restrictions on individuals and businesses in many areas continue to relax.  Increased economic activity should follow. For first quarter earnings, 275 companies …

Opening Day

April 27, 2020

  Some States have begun partial re-opening of previously closed businesses and activities, and several other States have been discussing re-opening plans. The opening of the economy is likely to be state-by-state and industry-by-industry.  COVID cases have risen where testing has increased, but hospitalizations and deaths appear to have peaked in most States giving governors …

The End of the Beginning

April 20, 2020

  The equity markets put together back-to-back winning weeks as the economy and COVID-19 news is less worse than it was potentially forecast to be just a few weeks ago. The curve appears to be flattening on COVID, select parts of the U.S. are set to be opened this month, and most of the early …

Looking Under the Hood

April 13, 2020

  Global equity markets had a strong recovery rally last week as scenarios begin to firm up of when the COVID-19 peaks in various countries and the global economy begins to re-open.  While the social and economic recovery is likely to last several months or longer, the financial markets tend to anticipate outcomes and a …

Waiting on Normal

April 6, 2020

  The equity market gave back some of its recent gains last week, but volatility also decreased which we view as a welcome signal relative to the higher levels of volatility we’ve seen over the past few weeks.  Uncertain timing on a return to normalcy in society and the economy is likely to weigh on …

Bridging the Gap

March 30, 2020

  The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was passed by the Senate and the House of Representatives and was signed by the President on Friday.  If uncertainty about the impact of the coronavirus was centered on the two unknowns of the infection itself and what the government was doing about it, …

Taking Action

March 23, 2020

  As the measures taken to slow the spread of the coronavirus (COVID-19) are beginning to take a toll on the economy through a reduction in activity in travel, dining, entertainment and other consumer spending categories, the U.S. government has been formulating ways to help stem the economic impact on both consumers and businesses. Two …

March Madness

March 16, 2020

  Uncertainty over the economic impact of the coronavirus (COVID-19) continues to negatively impact markets. The declaration of a national emergency on Friday allows coordinated action and financial resources to be used to shore up the economy and provide assistance to public health organizations. In our Dissecting Headlines section, we look at the national emergency …