Great historical analysis here and great reporting by Adrian D. Garcia at Ignites. My comments in late March quoted here show just how fast paced things have changed in four weeks. The extension of the “stay in place orders” until at least mid-May in most locations, and the deepening of the recession, have significantly negatively impacted attitudes since then. However, the impact on our clients has been quite varied based on the mix of their clients and asset classes. The conclusion that “belt tightening” is now the order of the day is inescapable.

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