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Market Update May 2020

Update from April 14 Memo: recent market events and continued positioning in high quality stocks

We hope everyone is enjoying the start of spring and staying safe and healthy during these trying times. With the quarterly earnings season having commenced and countries globally starting to gradually loosen mobility restrictions, we anticipate potential for significant volatility over the coming months. Therefore, while the magnitude of financial markets’ swings have recently subsided in the slightly more than two weeks since our previous April 14th memo, we want to continue to brief you on market and economic developments, and on our views going forward.

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