McGill Advisors Update

Update for May 2020  

Financial Market Update

Last month stocks delivered their best monthly return since 1987 with the S&P 500 rising 13%.  Stocks have built on these gains marginally in May, pushing the index up 34% from its March low and down less than 9% for the year.  Keep in mind this comes on the heels of a 31.5% return in 2019.  So, is it safe to say the longest bull market in history has officially been followed by the shortest bear market in history, and we are once again off to the races?  Maybe, but ultimately only time will tell.

The recovery is no doubt breathtaking, even to those with the poise to have bought shares when the days looked the darkest.  Never before have we seen an economic catastrophe of this magnitude – nor the scale of government intervention – in such a short period of time to stem the Covid-19 impact on the U.S. economy.  While these past two months have been truly extraordinary, in many ways, from a financial market’s perspective, what we just went through is not unprecedented. 

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An additional $484 billion in relief, including an additional $310 billion of funding for the Paycheck Protection Program (PPP), was signed into law on April 24. This provided a second opportunity for those practices unable to secure a PPP loan in the first round of funding.

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Quarter 1 Webinar: Investment Update

On April 3rd we were live on Zoom to answer your questions, talk about our thoughts on the current market environment during the Coronavirus crisis, and share how we're handling your accounts at this time.

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