Monday, Mar 30

Talking Points of the Week for Financial Advisors (3/30)

Every week, member firms of HQR receive a 19-page Weekly Report which includes risk level summaries, model allocations, detailed model positioning information, market index information, and much more. Here, we are sharing the talking points of the week which we provide in the Weekly Report.

Markets continued the theme of big moves this week with large up days in the S&P 500 on both Tuesday (+9.4%) and Thursday (+6.2%). In the last four weeks, we have only seen one day with a move of less than 1% in either direction.

The U.S. surpassed China as the epicenter of COVID-19 with more confirmed cases than any other nation and New York being hit particularly hard and straining healthcare systems across the country. More states have placed Shelter in Place orders, bringing the total to 23 states, 84 counties, and 17 cities covering 217M people across the country.

Jobless claims surged last week to historic levels, with 3.3M Americans filing for initial jobless claims, blowing past all previous records by more than 4x.

On Friday, the House passed the Senate’s $2.2T CARES Act in response to the COVID-19 pandemic, sending it to President Trump’s desk for signing. The act provides support for business and direct assistance to individuals based upon income as well as additional programs to help businesses, states, and individuals cope with the crisis.

We updated our economic quick take pack in an earlier note to clients along with some additional coverage of Thursday’s jobless claims number as well as the relief act passed by Congress and our latest economic thinking as the current crisis develops and evolves.

Team Helios

Team Helios

Helios partners with Financial Advisors to help them grow their business, save time, and add scale to their services through enhanced asset management capabilities. Helios was founded in 2016 in Granite Bay, California.