Monday morning briefing: A lost decade?

Spotlight on fintech as more people stay home. ESG funds performing relatively well. Private equity will be challenged by the spread of COVID-19. And much more in this week’s briefing.

Economic/industry news

Canada’s inflation rate was 2.2% in February: Annual pace of inflation cools to 2.2% in February

The BoE reduces its Bank Rate by 15 basis points: Coronavirus: UK interest rates cut to lowest level ever

More stimulus measures from the ECB: European Central Bank announces massive stimulus plan to calm markets

Will actions by central banks help?: Liquidity measures abound, but markets remain spooked

ESG funds performing relatively well: ESG investments performing well on relative basis during downturn

NYSE to move to all-electronic trading: NYSE to shut equities, options trading floors

Chart of the week


The S&P/TSX Composite Index declined 14% last week alone. Since the beginning of February, when concerns heightened over the spread of COVID-19, the S&P/TSX is down approximately 32%. As a result, the S&P/TSX Composite Index has lost almost all of the gains achieved over the past 10 years. While the global economy is going to suffer in response to the spread of COVID-19, we expect quality companies to recover and persevere over the long term. Let us know what you think.
Used with permission of Bloomberg Finance L.P.

News and notes (U.S.)

Hedge funds had positive inflows in JanuaryHedge funds reverse two-month redemption trend with USD21.2bn inflows in January

PE will be challenged by the spread of COVID-19How COVID-19 is shaping up to be a major test for PE

A look at the value of PE managers: Private equity essentials: How private equity managers create value

Guaranteeing safety of money market funds: Treasury proposes to guarantee money market funds in stimulus

Mutual fund sales and performance over the past two weeksMutual funds scorecard: March 19 edition

Bond fund flows increased in February: Investors fled to bonds in February: Morningstar

News and notes (Canada)

Canadian federal government introduces massive spending plan: Liberals pledge up to $82 billion in spending, deferred taxes

Caldwell Investment Management launches first ETF: Caldwell enters Canadian ETF market

The CSA announced extension to its filing deadlines: CSA extends filing, comment deadlines

Canada may be headed towards a recession: Canada facing recession: TD Economics

On the pulse – New frontiers in fintech

Bigger spotlight on fintech as more people stay home: Fintechs getting a boost from coronavirus outbreak

Is America ready for open banking?: Is it finally time for open banking’s debut in America?

Understanding the ethics of AI: The Ethics of AI: AI in the financial services sector: grand opportunities and great challenges

It’s important that companies maintain their focus on customers: Even in the age of COVID-19, you need to stay focused on the customer

Helping kids develop good money habits: Revolut launches app for kids

Why COVID-19 could speed up the digital revolution: Ad mogul Martin Sorrell says coronavirus will “accelerate the digital revolution”

High-net-worth topics

Preparing to put cash back into the market: Ultra-rich families poised for spending splurge after stock rout

Structured notes gaining popularity among the wealthy: Citigroup’s wealthy clients are snapping up structured notes

Polls & surveys – What financials are saying

Fund managers’ sentiment falling fast (Bank of America): Historic collapse in global fund manager sentiment: BofA survey

Spread of COVID-19 affecting the finances of Americans (LendingTree): 63% of Americans say virus outbreak has impacted their finances

In this time of rising uncertainty, please know that ext. is closely monitoring COVID-19 and its impact – current and potential – on our firm, our clients’ businesses and the overall financial services industry.

We remain committed to seamless service for our clients and the well-being of our employees during this time. If you have any questions about business continuity at ext. – or how you can effectively communicate these and other timely issues with your clients, please reach out to your account manager or contact us 1.844.243.1830 or