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Msg  67076 of 67433  at  3/30/2020 8:06:20 PM  by

carswell


Market Call

MARKET CALL NEWSLETTER
March 30, 2020


Brian Acker's Top Picks: Bank of America, Johnson & Johnson and Crescent Point

BNN Bloomberg

MARKET OUTLOOK

I think it’s important to note that the decline in equity markets that we have seen to date is not pricing in the financial impact of COVID-19 in my opinion. Only about 20 per cent of this decline can be traced back to the virus. The balance of the decline (say 75 to 80 per cent) is a deflationary shock that has hit the Western world, especially currencies and assets denominated in U.S. dollars and euros.

The U.S. Federal Reserve is trying everything in its power and using every tool in its tool box to alleviate this deflation. The U.S. government is using both fiscal and monetary authority in an unprecedented and historic fashion to transition the country’s economy from a full stop, self-isolated position to a full growth recovery and life after quarantine.

I believe once the U.S. government and Fed recover from this deflation shock, the U.S. equity markets will realize and patiently await a restarted economic recovery sometime in mid-summer or early fall.




 
 

 

Programming note: COVID-19

BNN Bloomberg
BNN Bloomberg is reducing its live Canadian broadcast schedule to 9 a.m.-5 p.m. ET starting Tuesday to help reduce the number of employees at its studios. We will still be live at all hours thanks to our U.S. partners and will include Canadian reports into international programming.

Market Call Tonight and The Street are on hiatus until further notice. All programming is dedicated to helping inform Canadians about the COVID-19 crisis and its effect on business, the economy, investing and personal finance. Turn to BNNBloomberg.ca for updates around the clock.


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