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Multi-Asset – CIO Daily Market Update – 24th Mar 2020

Tuesday, March 24, 2020

CIO Daily Market Update with Will Bartleet
CIO and multi-asset portfolio manager at Pacific Asset Management

Equity markets soared on Tuesday in anticipation of the $2 trillion fiscal stimulus package being approved by the US senate. The Dow Jones Composite, America’s oldest index, had the largest gain since 1933. The House Democrats made a counterproposal for a spending plan that amounts to $2.5 trillion.

President Trump followed up yesterday evenings comments that “America will again — and soon — be open for business,” by saying that “I would love to have it open by Easter,” Many questioned both his authority to carry out these instructions, and whether they would be listened to by the general public. As of Tuesday morning, approximately half the US population are being told to stay at home by their local governors.


IMPORTANT INFORMATION: Issued and approved by Pacific Capital Partners Limited, a limited company registered in England and Wales, authorised and regulated by the Financial Conduct Authority. The information contained herein is not approved for use by the public and is only intended for recipients who would be generally classified as investment professionals. Information or opinions contained in this article do not constitute an offer to sell or a solicitation, or offer to buy, any securities or financial instruments or investment advice or any advice or recommendation in respect of such securities or other financial instruments. Where past performance is shown it refers to the past and should not be seen as an indication of future performance.

 

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