As Midwesterners, we know that warm weather can occur before spring’s grand opening, and yet, we can’t rule out a snow until almost June. In terms of weather, no single day represents a meteorological change of season. One parallel between seasons and financial markets is they both go through cycles and the transitions can take time

Imbalance: lack of proportion or relation between corresponding things. Recessions are broadly defined as a significant decline in economic activity, lasting more than a few months. Often, they are a result of imbalances that emerge in the economy.

“The human mind is our fundamental resource.” President John F. Kennedy spoke these words 59 years ago in a special message to congress in reference to our progress as a nation. Nobody knows how the COVID-19 chapter will unfold; however, we believe in the same common conclusion – we will get through this.

The US stock market (S&P 500) declined 20% during the first quarter, marking its worst-ever start to the year. In our review, the quarter was marked by three distinct phases: Contentment, Dislocation, and Repair.

Financial market repair is not necessarily a smooth ride. Stock markets tend to move like a pendulum, swinging from side to side, spending a rare amount of time in the uneventful middle

As we enter April, it is hard to believe that the COVID-19 emerged a relatively short time ago. It is not an understatement that the impact, a health crisis that is driving the world economy into a recession, is without precedent in our life experiences.

This week we saw a more concerted effort to address Covid-19 through the worldwide mobilization of medical and financial resources. We watched an unprecedented relief-package make its way through the Congress and Senate. America and much of the world stayed home and practiced social distancing.

There is much that is still unknown; unlike during the Spanish flu epidemic, we are now a very connected world with a significant focus on the mitigation of the worst potential outcomes (minimizing fatalities).