We may not see a v-shaped recovery. Why PE firms may be looking at publicly listed companies. How COVID-19 may change banking. And much more in this week’s briefing.
Canada’s economy grew 0.1% in January: Economic growth slowed in January to 0.1%, Statistics Canada says
U.S. unemployment rate rises to 4.4%: US payrolls plunge 701,000 in March amid the start of a job market collapse
We may not see a v-shaped recovery: Economists are losing hope in a ‘v-shaped’ post-virus recovery
The Fed is stepping up to help global debt markets: Fed steps in once again to try to smooth out lending markets
How pension plans are approaching rebalancing amid the market volatility: Investment portfolio rebalancing in the time of coronavirus
Happy birthday to ETFs: Getting better with age: ETFs turn 30
Chart of the week
As COVID-19 continues to spread around the world, the services sector has been particularly hard hit. Travel, accommodation and food services, among others, have all come to a halt. In its most recent results from IHS Markit, services across the U.S. and Europe have had their steepest decline ever. Even if the spread of COVID-19 is flat-lines and people quickly return to work, it will likely take some time for the services industry to fully recover. Let us know what you think.
Used with permission of Bloomberg Finance L.P.
News and notes (U.S.)
Stay defensive in down markets: Billionaire Howard Marks pitches a defensive investing outlook
Why PE firms may be looking at publicly listed companies: Private equity will go after listed companies. And corporations will welcome it.
The impact of the U.S. government’s stimulus package on private markets: What $2T in stimulus does – and doesn’t do – for private markets
Mutual fund sales and performance over the past two weeks: Mutual funds scorecard: April 1 edition
News and notes (Canada)
From skates to medical equipment: How private equity-owned Bauer pivoted from hockey gear to medical masks
Tax planning for business owners in the current environment: Tax tips for business owners navigating the pandemic
Real estate market in Canada could see significant declines: Distancing, economic uncertainty to hurt home sales: RBC
Counsel Portfolio Services makes changes to pricing: Counsel enhances tiered pricing program
On the pulse – New frontiers in fintech
With challenges come opportunities: Coronavirus: New challenges and opportunities for fintech
How COVID-19 may change banking: Reimagining banking during and after COVID-19
Fintechs can benefit from partnerships with private banks: Private banks may prove profitable partners for fintechs
Improving cash management systems: Firms look to better cash management capabilities
Answering questions about a digital transformation: Banks questions about doing digital transformation
Improving the process for online account openings: When opening accounts in branches becomes impossible
Helping advisors with remote client engagement tools, free until July: Wealthtech firm offers tool free of charge
Reviewing your estate plan: How to take advantage of new estate planning opportunities caused by the coronavirus
The wealthy still bullish on the economy over the long term: Wealthy U.S. investors and business owners look hopefully to long term
Polls & surveys – What financials are saying
Canada’s stimulus measures could help ease the impact of COVID-19 (DBRS): Thumbs up for Canada’s large stimulus effort: DBRS
24% of millennials bought stocks despite volatile markets (Bankrate): Quarter of millennials bought stocks amid recent volatility: Bankrate