On April 7, 2020, we spoke with Idanna Appio about recent market developments and the potential short- and long-term macroeconomic impacts of the coronavirus pandemic.
Investors initially downplayed news of the novel coronavirus outbreak in China, and equity indexes continued to press higher for the first weeks of 2020 as they did for much of 2019, led by growth-
The latest Social Security Trustees Report revealed that the program’s 75-year deficit had increased and the depletion of the Social Security trust fund continues to be projected for 2035.
Though equity indexes have bounced off their worst levels of 2020, Matt McLennan, head of First Eagle’s Global Value team, appeared on Bloomberg TV to caution that the full impact of the pandemic’s “gut punch” to the world economy may yet to be fully appreciated by markets.
The co-managers say times like these make the case to own gold strategically as a potential hedge and not as a bet for higher prices.
First Eagle Funds
Shareholder Servicing Agent
PO Box 219324
Kansas City, MO 64121-9324