FROM THE GLOBAL CIO OFFICE - By Candice Bangsund, Vice President and Portfolio Manager, Global Asset Allocation
The month of March was nothing short of unprecedented. Financial markets were roiled against the backdrop of the escalating COVID-19 pandemic and the dreadful economic fallout from the countermeasures to contain it. Investors are weighing the progression of the outbreak and the ramifications for global growth against the efficacy of the monetary and fiscal response in restoring financial market stability and stemming the economic hardship. As the breadth and depth of the outbreak and its economic toll remain unknown at this time, sentiment is almost certain to be fragile until the virus has been contained.