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 discuss where we are in the coronavirus crisis, including a look at the virus itself, the economy, and the market.
We had some good news this past week in terms of the virus. The daily case growth rate dropped to under 3 percent per day, and the number of tests given per day increased. Unfortunately, there was bad news for the economy, with millions more people losing their jobs. Even here, however, there are signs that the federal stimulus programs are working, and the peak of the economic damage may be behind us. In fact, the stock market seems to think the recovery may happen sooner rather than later. It is pricing in a V-shaped recovery, with a return to something close to normal by the start of next year.
Does the market have it right? Watch the latest video learn more.