We will beat this virus. And the market will ultimately recover…….it always does. But I believe the short/medium term ride will continue to be very rough.
There are many questions. Here are just a few:
-how long will the shut down last? -how high will the unemployment rate go? -what will impact be on real estate values? -which businesses, large and small, will fail? -which blue-chip stock dividends might be impacted?
At this point no one knows the answers.
My only advice to Canadians is that, if you will need to draw cash from your investment portfolio within the next two or three years, make sure you have very low risk investments to cover those withdrawals such as short/medium term federal or provincial government bonds, bond ETFs (which hold largely government bonds), insured GICs, insured bank savings accounts or cash.
Please do your part to stop the spread of COVID-19. You know what to do.
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Your Market News update for May 30, 2019 | View online Market News News that's moving the market now As Trade-War Worries Linger, Market Seems to Lack Buying Conviction May 30, 2019 8:40 AM | JJ Kinahan 6 min read | Daily Market Update