BY: MARSHALL BARTLETT
Senior Vice President / Portfolio Manager
Announced this morning, the Initial Jobless Claims increased by 6,606,000 for the week ending 4/4/2020; still extremely elevated, bringing the total claims for the past three weeks to more than 16 million. As the government led shutdown to mitigate the spread of COVID-19 continues, data points have shown some initial slowing of the spread of the virus in hard hit areas. Meanwhile, the Federal Reserve has announced an additional $2.3 trillion in aid for the economy, including programs designed to help small and medium sized businesses as well as states and municipalities. It is clear the Federal Reserve remains on a determined path to increase accommodation amidst this crisis. In all, following the Fed’s announcement the 10-year bond yield ticked higher and equity futures also moved higher heading into the market open.
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