


Extreme Market Conditions
Fear of the Coronavirus and its impact on the economy has created extreme volatility in financial markets. Less than a month ago, the U.S. stock market was at an all-time high, economic growth was steady, and tensions from the trade war were abating.

The Bear That Wasn’t
The fourth quarter of 2018 was filled with anxiety about a pending recession. The long-awaited bear market was about to arrive.

From Stability to Fragility
While 2017 was a year of stability, comfort and strong stock market gains, 2018 was essentially the opposite with higher volatility, increased anxiety, and poor stock returns.
The world changed dramatically over the last six weeks. A recovery is coming, but it will take a while for the economy, financial markets, and every-day life to return to normal.