From famine to feast is the simplest way to describe the stock market of April 2020. North American equity indices punched out double digit advances in response to unprecedented monetary stimulus and fiscal accommodation combined with an apparent comfort that the viral contagion was going to be contained in a timely fashion. Clearly looking beyond the plunge in the economy and corporate profits, the graph on the below left shows that as of late April, the S&P 500 had enjoyed its sharpest recovery off a bear market bottom in fifty years. This rally occurred after stocks had lost 42% of the return generated during the recent bull market as highlighted by the far right hand bar in the bar chart on the below right.
Alternative asset manager offering investment solutions that find a balance between asset protection and capital enhancement.
Alternative asset manager offering investment solutions that find a balance between asset protection and capital enhancement.