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Where are we?

It seems to me that the more we stay at home the more homeless we start to look – well at least in our household. At some point I considered getting a Wilson volleyball to complete my Tom Hanks Cast Away look. Then my hairdresser called and I was delighted when she said “we are open for business…with some tweaks”. I guess that is how things are right now in many areas of  our lives and the economy; open for business but it is not business as usual. 

While positive momentum continues to build around a vaccine and our efforts to flatten the curve, uncertainty remains as more businesses start to open and we start getting a feel for what life will look like under the ‘new normal’. I hope over time the social distancing line-ups at the hardware and other stores will no longer be needed. That we will be able to have family gatherings and celebrate special events with our friends and loved ones without restrictions and also travel without the current risk. In the meantime, I think it is wise to be prepared to be agile and dare I say, a bit  uncomfortable, as restrictions are lifted but things still remain far from business as usual. 

Stock markets have bounced back, despite weak economic news

This is not uncommon – markets are considered a ‘leading indicator’ in that security prices reflect the investor’s view of the future. Economic news by nature is lagging. This difference helps to explain why stock markets rebounded in the face of horrible economic data, including historic unemployment in both the U.S. and Canada. With Covid-19 curves flattening around the world, market participants have clearly begun to look past the crisis towards a gradual restoration of the economy and company profits.   

It might be worth noting that while many have summoned comparisons to the Great Depression of the 1930’s, this is not a great comparison (see articles in the links below). Fortunately, World leaders have learned the lessons taught by this period, as well as those from the Financial Crisis of 2008-09, which makes them more effective in limiting the negative impact unforeseen events might have. 

I want to leave you, again, with some articles/webinars that I find interesting and informative. 

Stay safe, keep healthy and enjoy the summer.

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