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Tucson, AZ 85719


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Market Update – April 24, 2020

Dear Clients and Friends, 

The House passed the additional funding to the small business part of the act yesterday which gave the markets some optimism.  Additionally, the Treasury Secretary stated it will be very difficult for publicly traded companies to get the PPP loans forgiven as those companies have access to capital markets.  They have been given up until May 7th to pay back the loan if it is not necessary and we expect that quite a bit of that will be happening over the next couple of weeks.  This should have the effect of this money being distributed to smaller businesses and reaching more companies overall.
On Monday, a couple of states are expected to significantly ease their lockdowns while several others might follow suit May 1st.  Ideally, this will not result in a resurgence of the virus.  More and more reports about the virus potentially being more widespread and arriving in this country earlier are starting to circulate, although in every case we are being told to take the data with a grain of salt.  Hopefully we find out that many people have already recovered from the virus and have antibodies already to fight it.
Have a great weekend!

Alexander D. Parrs, CFA, CFS, ChFC, CFP®, CASL