Please note that due to risks and complications associated COVID-19, where possible we will be sending our Quarterly Reports by secure e-mail or DS Online (starting in mid-April).
A few topics our newsletter touches on this week (you can also view updates on our blog):
- Our Thoughts
- New episodes in RBC podcast series “10 Minute Take”
- Checking in on US bank stocks - audio
- Distraction content (for kids & adults)
Our Thoughts
Everyone has heard the very large new jobless claims, which come hand in hand with the suppression of economic activity that is part of the strategy to mitigate the spread of COVID-19. Investors should brace for more negative data points in the weeks to come. Interestingly, the equity markets have behaved relatively better despite the sombre headlines as they had already fallen meaningfully in preceding weeks, reflecting the anticipation of an economic recession. The important question remains whether the measures that have been taken – and may yet be taken – by governments and central banks are meaningful enough to contain the virus and limit the impact to the global economy. We continue to expect volatility in the near term until there is visibility into the potential peak in new global coronavirus infections.
The 10 Minute Take – RBC Podcast Series *new episodes*
New episodes will get posted regularly to discuss various issues front and center during the COVID-19 crisis. This latest episode discusses the Eurozone, featuring RBC macro strategist Peter Schaffrik discussing how the current destabilization, and the bill for the recovery, might play out among Europe’s major powers.
Listen: “Checking in on US bank stocks” from RBC Wealth Management
A good listen: Janet Engels, Head of the Portfolio Advisory Group – U.S., talked to Gerard Cassidy, RBC Capital Markets’ Head of U.S. Bank Equity Strategy, about the differences between today’s coronavirus shock and the global financial crisis, the stability of banks, and, importantly, the sustainability of dividends.
Distraction content:
For the kids while you are working from home:
- All Kids Network: Crafts, worksheets, colouring pages, printable mazes, dot to dots, and more.
- Bedtime Math: Daily prompts to make math easy and fun to talk about. Try adding into your bedtime routine!
- CBC Curio.ca: Online streaming platform, currently with complimentary access, with collections of educational videos.
- Funbrain: Online games, books, and activities divided by grades K-8.
For adults:
- Bell Media has announced a free 30 day trial of Crave TV (including HBO shows) until April 30th – more info here. Expect to hear more of the same from other streaming providers.
- CNN has compiled a handy list of virtual museums, concerts and more to help you escape (if through a screen) – click here.
Our team is here for you
We continue to recommend in these types of environments the strategies of high-grading the names in your portfolio and re-balancing if appropriate. Let us know if you want to discuss any of these strategies and how they might fit with your portfolio.
The best ways to communicate with us are by phone, e-mail or video chat. We are all working remotely however our office is open and we can receive incoming mail.
Regards,
Mark, Peter, Sarah, Corinne & Andrea