The £350bn bailout launched to save the economy yesterday initially gave markets a positive upturn.
However, the sentiment is that although governments and financial institutions are putting measures in place, the short term pain is likely to remain and UK GDP is going to be negative in the next quarter, and a recession is on the way.
Potentially one positive sign is the pain will be short term and markets will recover in a shorter period due to consumption when life gets back to normal.
At present, my advice is for clients to remain invested in portfolios with the intention of rebalancing shortly into agreed asset allocation.
Portfolio Performance Year To Date (YTD)FE-Analytics-Chart-2
The information provided in the update is for existing clients invested with PWS Southport.