COVID-19 Resources

In the first months of 2020, COVID-19 spread across the globe, ultimately earning classification as a global pandemic by the World Health Organization. The virus has had wide-ranging financial ramifications, among them the emergence of a bear market. Amid this turbulent global environment, we remain committed to our clients and colleagues, and will continue to update this page with our latest insights on the effect of the coronavirus on the investment landscape.

Research Note April 2020
Navigating Healthcare System Investments Through the Coronavirus Crisis

April 8, 2020—The COVID-19 pandemic has inflicted significant duress upon the operational and financial situations of nonprofit healthcare systems. An immediate response was necessary to escalate staffing, spending, and resources to provide emergency treatment to those affected by this highly contagious outbreak.
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Research Note March 2020
The Complex Relationship Between Inflation and Asset Prices

March 23, 2020— As we write in March 2020, COVID-19 is spreading across much of the world, undercutting economic activity. While how this situation will unfold is not entirely clear, we have long believed that the best way to guard against future uncertainty is to have a well-constructed portfolio. One key component in that is understanding the relationship between asset prices and inflation.
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March 19, 2020 Virtual Webinar
The Bear Awakens: Market Implications of COVID-19

The bear has finally come out of his long hibernation, causing us to dust off our playbook for weathering bear markets. Listen in to our webinar as Mary Pang, Head of Global Private Client Practice at Cambridge Associates moderates a discussion with colleagues, Celia Dallas, Chief Investment Strategist; Mark Evans, Managing Director; and Kevin Rosenbaum, Deputy Head, Capital Markets Research, addressing the circumstances that have abruptly ended the bull market and evaluating the market implications of COVID-19.

Click here to watch the recording from March 19, 2020. Visit Website »

Cambridge Associates hosted event

CA Answers March 2020
Rate Cuts Are No Vaccine

March 16, 2020— The Federal Reserve Bank has announced a host of emergency measures intended to improve bond market liquidity and reduce borrowing costs, which come in response to rising signs of dislocation across Treasury, municipal, and corporate bond markets.
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CA Answers March 2020
Crude Oil Prices Collapsed—Should Investors Buy Public Energy?

March 10, 2020— Political machinations and virus-induced uncertainty are weighing on oil prices at present, and it seems unlikely that both these obstacles will soon be lifted. Investors should closely monitor positioning to ensure the current level of energy exposure is intentional.
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CA Answers March 2020
Treasury Bond Yields Plunge to Historic Lows

March 9, 2020—Yields on ten-year Treasuries dropped below 50 basis points (bps) today for the first time in history as COVID-19 fears spread. While we cannot rule out a recession, given the uncertainties associated with the virus and its impact on economic activity, we believe today’s low yields are less about long-term growth forecasts and more about expectations of further Federal Reserve easing, risk aversion, and liquidity preferences.
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