The Week Ahead: Trying to look through the Fog

Trying to look through the Fog Share this story: David Atkinson Foreign Exchange Sales Manager For this look at the Week Ahead, it almost makes no sense to list off the economic releases and thoughts over the next couple of weeks for currency rates.  Short-term everything will be reacting to the evolution of the spread of COVID 19, and that is still an evolving issue.  So instead of putting out something for the next couple of weeks, here are just a few brief thoughts that have been discussed in the markets. First, the real activity in fighting the virus seems to have moved from Asia to the US and Europe.  Keep in mind though that Asia fought this for a good couple of months so that could be the situation here.  Again, it depends on how this develops. Secondly, once we DO get through it, how quickly will we get back to reasonably normal market conditions?  My personal view is that once we see that we have moved through this, there will be a sharp correction to the upside for equities and bond yields.  I repeat what we heard from City National Rochdale’s Matt Peron this week when he was on CNBC.  In previous crises like this, markets were back up a year later, so the lesson is to not panic and realize this will pass like all before it. Finally, since these developments are fast and furious, please look for our daily morning commentaries.  Have a great week everybody. If we can help you with any Foreign Exchange needs, please email foreignexchange@cnb.com or call (800) 447‑4133. Want to learn more about international finance, economics, and global events? Sign up for our other Foreign Exchange emails and videos! Follow City National Bank on social media: Non-deposit investment products: • Are not FDIC insured, • Are not deposits or other obligations of City National Bank and are not guaranteed by City National Bank, and • Are subject to investment risks, including possible loss of the principal invested. This report is for general information and education only and was compiled from data and sources believed to be reliable. City National Bank does not warrant that it is accurate or complete. Opinions expressed and estimates or projections given are those of the authors as of the date of the report with no obligation to update or notify of inaccuracy or change. This report is not a recommendation or an offer or solicitation to buy or sell any financial instrument discussed. It is not specific investment advice. Financial instruments discussed may not be suitable for the reader. Readers must make independent investment decisions based on their own investment objectives and financial situations. Prices and financial instruments discussed are subject to change without notice. Instruments denominated in a foreign currency are subject to exchange rate and other risks. City National Bank (and its clients or associated persons) may engage in transactions inconsistent with this report and may buy from or sell to clients or others the financial instruments discussed on a principal basis. Past performance is not an indication of future results. This report may not be reproduced, distributed or further published by any person without the written consent of City National Bank. Please cite source when quoting.

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