Here's the latest commentary from Commonwealth's Chief Investment Officer, Brad McMillan. We continue to monitor the markets and will keep you posted. As always, please call us if you have any questions.
Today, I'd like to provide an update on the wide-ranging effects of the coronavirus pandemic. With case counts continuing to rise, we may be entering into the toughest phase of the crisis. Although there are signs of general improvement, including a slowdown in case growth, the economic damage is mounting. More than 6 million people lost their jobs in the past week, bringing the total number of jobs lost thus far to around 10 million.
Given this instantaneous mass unemployment, we should expect the economy to go into a recession. But what should we expect from the markets? Watch the latest video to learn more.