Compass Market Watch, Week of March 9, 2020

DID YOU KNOW? Enjoying the roller coaster yet? Just like the Coronavirus is one of those 'unexpected events', this morning we awaken to reeling global markets after Russia walked out of the Opec oil producers’ cartel, refusing to sign up to additional production cuts proposed by Saudi Arabia. By doing so, it initiated an all-out price war in the oil market which many US shale producers may not survive, greatly compounding the prevailing economic and market uncertainty. We should also expect a sharp rise in Coronavirus cases in the US as testing capability is just now starting to kick in. Many consumers will be jittery over the next few weeks until we work our way through this....and we will!
DID YOU KNOW? Oil prices plunged around 30% overnight. While daunting, this also could have a silver lining: this may cause gas prices to plunge too, thereby acting as a mini-tax-break for the consumer who on average consumes 500 gallons per year.
DID YOU KNOW? Here is a UBS summary for finances in today's roller-coaster markets: Investors have been struggling to process the risks arising from the CORONAVIRUS outbreak. The performance of equity markets and interest rates hinges on four factors, in our view: the rate of new cases globally, economic data, the policy response, and whether valuations are deemed sufficiently attractive to enter the market. At present, we see five main areas of opportunity: emerging market stocks vs. their developed market counterparts, buying into oversold sectors, seeking longer-term winners, benefiting from higher volatility, and diversifying your portfolio. One thing every report I have read has in common? Capitalizing on the historically low mortgage rates. Listen here.
DID YOU KNOW? The average 30-year fixed-rate mortgage hit a record 3.29 percent last week, the lowest level in its nearly 50-year history. WOW!

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Chase’s specialty is the selling and leasing of residential property, including single-family homes, condominiums and multi-unit properties. He has also been retained many times over the years by various banking institutions to sell their inventory. His attention to detail and professionalism have also made him a popular referral among business managers, attorneys and financial advisors.

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