Today, we want to share with you another update from Commonwealth's CIO, Brad McMillan. In today's video, Brad provides an update on the coronavirus crisis, including its effects on the economy and markets. With regard to the virus itself, we’re seeing signs of progress. This week, the daily spread rate dipped below 5 percent, and the number of new cases per day started to stabilize. With this good news on the pandemic front, the focus is shifting to how to reopen the economy. Here, the news is not as good. With more than 22 million jobs lost over the past several weeks and many businesses remaining closed, the damage is mounting.
Mitigating measures, like the stimulus checks, are starting to take effect, but a recession is likely. How bad will that recession be, and what could it mean for the markets? Watch Brad's video below to learn more.
Coronavirus Update from Commonwealth CIO Brad McMillan, April 17, 2020 from Commonwealth Financial Network on Vimeo.
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Authored by Brad McMillan, CFA®, CAIA, MAI, managing principal, chief investment officer, at Commonwealth Financial Network®.