Just briefly, we wanted to talk about what we're looking at in the markets. This week it's going to be all about oil, small businesses, and bonds.
All About Oil
Oil prices look like they're going to collapse and potentially go negative this week for the first time ever. If you have an oil tanker sitting in your backyard or somewhere convenient, you can probably get really good rental rates right now because there's too much oil and there's too few places to store it. It's going to be all about oil prices this week in the market.
Small Businesses Looking for More Relief
Washington is working on additional rounds of small business relief. They blew through $350 billion worth of the Payroll Protection Plan money. They're lined up to try to do another $250 to $300 billion into that to keep a small businesses from having to lay off everybody.
Last But Not Least - Keeping an Eye On Bonds
We are keeping an eye on bonds, mortgage bonds, and bank loans right now. So these are the three things we're looking at for the market this week.
When Will the Economy Reopen?
We are concerned about weakness in the market and we think that we're going to have some additional friction in our economy as we try to get into reopening mode. Every state is going to be on a different spectrum. I know here in the Northeast - I live in New Jersey - New Jersey is way behind in testing, and we're concerned about that because we really need wide spectrum blind study, monitoring, and testing before the economy is able to really be positioned well for reopening.
Every state has got to get to a certain threshold in terms of their infrastructure before they're ready to start. Moving into that one, two, three process that the federal government is providing in terms of guidance for reopening or re-entry.
If you have questions or concerns, as always, please don't hesitate to reach out. You're never an inconvenience. We're always glad to hear from you.
We are here at Vizionary with perspective for the decisions ahead. Have a great day.