This has been an eventful week. We had big new developments from the government, including the Fed’s announcement this morning of a multi-trillion dollar buying program to support fixed income markets. The latest projections on the spread of the virus have improved somewhat.  Equities are rallying again[1], strongly and rapidly, on track for the best week since 1938! We are not out of the woods yet, but it is obvious how fast and unpredictable this is.

Best Regards,

Roger Hewins

[1] Source: CNBC, April 8, 2020

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