The Global M&A market came to a screeching halt in March of 2020 as COVID-19 swept across the globe, devasting economies and livelihoods alike, and as of mid-July, infecting nearly 14 million people and killing nearly 600,000. The closing of economies around the country caused massive economic dislocation, personal hardship, lost educational opportunities, and countless other negative outcomes. The costs/benefit tradeoffs of this economic shutdown will long be debated by economists, businesspeople, politicians and everyday Americans.
Read MoreThe U.S. and major international economies function on massive credit markets. Credit has become ubiquitous with everyday life; we’re seeing that change right before our eyes. COVID-19 is becoming the biggest test to the credit markets and will change the way credit is used from hereon.
Read MoreYes, there is plenty to worry about right now. And it’s not just one thing - unfortunately it’s just about everything.
We believe that a Global Economy that was already weak and sputtering has been walloped by a Triple Whammy of Haymaker punches including the direct effects of the Coronavirus outbreak, dramatic reductions in energy prices caused by an all-out war between the largest oil-producing countries and the economic fallout from all of the dramatic circumstances occurring around the world. Large events are being cancelled left and right, with no relief in sight.
2020 is going to be a rough year – historic for likely the wrong reasons.
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Read MoreMarket conditions have changed at a feverish pace, never before has the stock market so quickly entered a bear market. Credit Default Swap rates have skyrocketed, investors are flying to quality credits. Unlike 2018, the most recent comparison, monetary policy has much less ammunition to buoy this market.
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