Calvin Schnure

In more normal times a weekly move up or down of nearly 4% would be major news, but in a period of heightened volatility during the covid-19 crisis, this is the smallest move in quite a while.

The markets have gained ground in two of the past three weeks despite news of record levels of jobless claims as firms close to curb the spread of COVID-19. 

REITs declined in the week ended April 3, with a total return of -7.67%, giving back almost half of the gains they posted the week before.

Several important data releases are scheduled in the coming weeks. Here’s what to watch.

The stock market got a bit of relief last week as forceful policy measures prompted a three-day rally, trimming some of the recent losses.

The mortgage market is critically important for the economy and for financial markets.

Growing concerns about the impact of the coronavirus on the economy have caused severe liquidity issues in some asset classes.

The main question today is how long the phase of rapid growth of infection and the economic shutdowns necessary to contain it will last.

Conditions worsened significantly over the past week, both in terms of the expected economic impact of the disruptions to activity in response to the virus, and also in stock market returns.

Stock market declines due to the coronavirus crisis are in the headlines, but the main risks in the weeks ahead are elsewhere: in cash flows and liquidity shocks; resiliency of the financial system; and impact on economic fundamentals.

Different property sectors face different exposures to the coronavirus crisis, and REIT returns reflect those differences.

The advance of the coronavirus within the United States has prompted a corresponding spread of actions aimed at slowing the pandemic. These actions will cause a noticeable reduction in GDP, but how large might it be?