U.S. Economic and Market Highlights

CORONA VIRUS RESPONSE

• For the short-term, the market remains fixated on the virus outbreak as well as policy response. Shutting down the global economy is not a viable long-term solution. The current economic “pause” across developed market geographies should buy time to slow down the spread of the virus, and enable governments to cushion the slowdown with stimulus.

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U.S. Economic and Market Highlights

Coronavirus COVID-19 Response

• Governments around the world have responded to the pandemic by passing legislation for relief packages, in various amounts, to provide humanitarian and economic aid to its citizens.

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It’s been a difficult week for the stock market with the global equity selloff as a result of the uncertainty surrounding the coronavirus and questions about how its impact economic activity, corporate earnings, supply chains, and global growth. We are recommending to our clients to stay the course with their long-term asset allocation policy and not be reactive to market volatility. We are monitoring the capital market environment closely but have not made any changes to client portfolios based on volatility around coronavirus.

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