The economic and stock market recovery will remain tenuous until a more permanent solution to COVID-19 becomes apparent. This has been our message for several months and today was a symptomatic display of that fragility. Furthermore, the measures announced over the last few hours remain in line with our base-case scenario, which calls for the use of more targeted restrictions (i.e. less damaging for the economy), not a return to the total lockdown of early 2020.
** I have prepared this commentary to give you my thoughts on various investment alternatives and considerations which may be relevant to your portfolio. This commentary reflects my opinions alone, and may not reflect the views of National Bank Financial Group. In expressing these opinions, I bring my best judgment and professional experience from the perspective of someone who surveys a broad range of investments. Therefore, this report should be viewed as a reflection of my informed opinions rather than analyses produced by the Research Department of National Bank Financial **