/perspectives/media/taking-stock-of-covid-19-policy-and-market-effects

Taking Stock of COVID-19 Policy and Market Effects

Scott Minerd, Chairman of Investments and Global CIO, calls in to Bloomberg TV to discuss the policy response to the crisis.

March 18, 2020

 

Key Takeaways:

  • What the Fed has done to this point is necessary but not adequate.
  • Corporate bond spreads have widened a lot. But we haven’t yet seen capitulation in areas like securitization.
  • There is still downside room in the stock market.
  • Beware of moral hazard in the bailout of airlines.
  • Ultimately this is going to be QE5, with about $4.5 trillion in quantitative easing to address the shortfall of credit availability.


Read Global CIO Outlook: Necessary But Not Adequate


FEATURED PERSPECTIVES

September 23, 2020

Guggenheim’s 2020 Election Portfolios

Our portfolios are constructed based on the key aspects of each candidate’s policy agenda that we believe will move markets. We will publish daily updates in the run up to the presidential election on Nov. 3, 2020.

August 19, 2020

The Impact of the Fed’s Corporate Credit Facilities

As a result of the Federal Reserve’s efforts to shore up credit markets, the leveraged credit sector has delivered stellar performance since the lows in March.

July 29, 2020

China Matters More Than Ever

Cooperation and understanding between China and United States is vital as global economic and environmental challenges mount.


VIDEO

Third Quarter Outlook 

Third Quarter 2020 Outlook

Brian Smedley, Head of Macroeconomic and Investment Research, and Portfolio Manager Steve Brown share their outlook for the third quarter 2020.

2020 Macro Themes 

Macro Themes for 2020

Brian Smedley, Head of Macroeconomic and Investment Research, discusses major trends likely to shape markets this year.







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