While volatility continued this week, market movement was general flat in total. This, despite that fact that oil prices hit record lows amidst a huge over-supply. For the economy to be hit with two event-driven shocks at the same time, it leaves little doubt that volatility will continue in the coming weeks and that more downside pressure (in the short-term) would not be a surprise. That said, PIMCO laid out their case for the eventual recovery--an interesting read with the premise of a "U-shaped" recovery. What they describe as a phased recovery certainly makes sense given the likely phased-in re-opening of the economy.
I have had some questions from clients about the CARES act, and I believe there is some incorrect information being passed around. I am including an article from Ed Slott's team that counters some of the misinformation out there.
Here are the links to what I'm reading today: