The best way out is always through." - Robert Frost
The markets continued to hold up well last week even as containment of COVID-19 has yet to be achieved, and as economic damage from the lockdowns triggered by media-driven mass hysteria continues to accelerate. 26 million Americans have filed for unemployment over the past five weeks. This number will continue to increase even as some states start to slowly reopen their economies.
Equities could get a test this week, given their large gains in April. The initial estimate of first quarter GDP Wednesday will