Macquarie: All The King’s Horses
Executive summary In this special edition of Macquarie Fixed Income (MFI) CIO note, we provide insights into how the team is viewing the evolving environment, detail the framework with which we are assessing the situation, and outline our thoughts on possible broad and market specific implications due the outbreak of the COVID-19 virus. For many […]
LPL: How Far Do Earnings Typically Fall In Recessions?
With 20% of S&P 500 Index companies having reported first quarter results so far, earnings season has been a mixed bag. In our April 13 earnings preview, we noted that S&P 500 Index earnings for the quarter were expected to decline 10% year over year, based on FactSet’s consensus estimates from analysts. That number is […]
John Hancock: Weekly Market Recap Week Ended April 24th
More legislative relief As the official U.S. coronavirus death toll topped 50,000, the House on Thursday followed the Senate’s lead in approving another infusion of aid, and the measure was signed into law on Friday. The $484 billion bill replenishes two depleted small business-relief programs, offers additional assistance to hospitals, and funds an expansion […]
J.P. Morgan: What Will the Recovery Look Like From the COVID-19 Recession?
Prospects for a quick, V-shaped recovery compared to a slower, U-shaped rebound in economies and markets post-COVID-19, as confirmed cases worldwide top 1 million, central banks unleash unprecedented stimulus and jobless claims soar. V-Shaped or U-Shaped? Best case scenario V-shaped recoveries, or those that start with a steep fall, but trough and recover quickly, have […]
Schwab: Waiting for the Coronavirus Peak
The COVID-19 pandemic has severely affected the U.S. economy, with containment efforts leading to widespread business closings and surging unemployment—and stock market volatility. The key questions now are when can the economy reopen, and what happens when it does? Shutdowns have rocked U.S. stocks and economy Large sections of the U.S. economy remain shut down […]
John Hancock: Weekly Market Recap Week Ended April 17th
Comeback continues While stocks’ latest weekly gains were far short of the previous week’s double-digit surges, the major indexes recorded their first back-to-back positive weeks since the market sell-off began in mid-February. The Dow rose more than 2%, the S&P 500 added 3%, and the NASDAQ climbed 6% amid incremental progress in attempts to […]
LPL: GDP Forecasts Explained
The economic damage inflicted by the current COVID-19 pandemic has been unprecedented, with thousands of businesses temporarily shuttered and millions of workers out of work. While the historic drop in economic activity is real and will be reflected in the second quarter gross domestic product (GDP) numbers, some nuances in the way GDP is […]
Alliance Bernstein: Capital Markets Outlook Q2 2020
Capital Markets Outlook 2Q20 Source: PDF from Alliance Bernstein
John Hancock: Weekly Market Recap Week Ended April 10th
Climbing back Although the stock market’s recent gains have gone a long way to recover ground lost amid the coronavirus pandemic, the major indexes remained far short of a full comeback. As of Thursday’s close, the S&P 500 was up nearly 25% from a recent low on March 23, but it was almost 18% […]
LPL: Adjusting our Playbook After the Bounce
Markets Blog We continue to follow our Road to Recovery Playbook for guidance in assessing the market’s bottoming process. In recent updates, we had indicated that four of the five signals were checked off. We have a sense of the severity of the recession (#2), which now we know has arrived. Analysis of the market’s […]