We would like to wish all of the Mother’s, the step-moms, friends, aunts, and all those that step into a parenting role, a Happy Mother’s Day weekend! Caring for and nurturing our young people to become kind, contributing members of our communities is one of the toughest and most important jobs there is. Sending gratitude and wishes for a wonderful weekend. ~ Rhonda Hymers
Please see below for the weekly update.
The transition from lockdown to reopening – An update with Jim Allworth
Mark Bayko and Jim Allworth discuss the most recent developments and outlook going forward. They touch on the psychological impact that may linger for some, the outlook for equities and oil, and how the crisis may have accelerated some business trends that were already in place.
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Global Insight Weekly - May 7
Trade tantrum? – As if economies and markets didn’t already have their hands full, U.S.-China trade tensions have been rekindled. While it’s unlikely a new, full-blown trade war will be unleashed, the two rivals are likely to lock horns over the next few months. This additional layer of uncertainty reinforces our cautious stance toward equities. (pg 1 and below)
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Global Insight Monthly - May 2020
A shadow of doubt? – The shadow cast by COVID-19 on profits and GDP growth could be longer than expected. We examine the paths back to normal for earnings and the economy, and the implications for equities.
Oil demand’s vanishing act – With oil prices in free fall as demand has evaporated into thin air, we look at what’s in store for the oil market.
Global equity: Staying Underweight – Investors have been faced with massive uncertainty since early February when COVID-19 burst out of China and became a direct threat to economies. As time has passed, greater clarity has emerged, but some aspects of the crisis have remained stubbornly opaque.
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Managing expectations around an economic recovery
This week, RBC Global Asset Management’s Chief Economist Eric Lascelles shares his outlook as global economies start to reopen. He makes a below-consensus growth forecast, using an expenditure-based GDP approach to estimate the peak-to-trough decline.
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China’s economic recovery still a long way off, despite official reports
China has touted economic re-opening as the central government’s triumph over the COVID-19 virus. But though firms are back to work and factories are up and running, growth hasn’t recovered. In fact, privately gathered data suggest China’s economy continues to struggle. Can the government do more than reopen factories? And what will it take to get Chinese consumers shopping, travelling, and spending again? Leland Miller, CEO of China Beige Book International, joins us our podcast to explain what the official numbers don’t.
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“Youth fades; love droops; the leaves of friendship fall; A mother’s secret hope outlives them all.” —Oliver Wendell Holmes