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.

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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CA Answers March 2020
The Fed Eases as Virus Concerns Grow

March 3, 2020—The US Federal Reserve cut its policy rate by 50 basis points today, highlighting the serious challenges facing the global economy. Still, we don’t believe investors should cut risk. Very few have an informational edge regarding COVID-19’s market impact, and investors could be left underexposed when and if markets rebound.
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