What a difference a month makes. March 2020 was complete mayhem as all markets (stock, bond, currency, commodity markets) whipsawed day after day. The equity markets saw one of the fastest bear markets recorded as markets sold off aggressively and seem to have recovered a bit. Suffice to say, there is plenty of confusion on the future of the economy as we are in the midst of a recession, possibly even a depression.
The panic has gripped the central banks as well. Central bankers around the world have cut interest rates aggressively and unleashed QE programs while governments have picked up the pace on fiscal stimulus to complement the monetary stimulus.Continue reading