First Post-COVID-19 Data Arrives
In This Issue
The Week on Wall Street
Stock prices pushed higher last week as news of a White House plan to reopen the economy and reports of a potential COVID-19 treatment helped the market overcome weak economic data and an ugly start to the corporate earnings season.
Reality Hits
Until last week, the extent of the economic damage from COVID-19 lacked a lot of hard data. With the release of low retail sales in March, drop in industrial production, and new jobless claims of 5.2 million, the scope of economic trouble became clearer. [1][2]
Stocks wavered throughout the week as investors digested the economic data and balanced the reports against signs that the pandemic may have peaked. With news of a plan to restart the economy and promising test results of a COVID-19 treatment, market sentiment turned positive, sending stocks higher on the final day of trading and cementing the second consecutive week of gains.[3]
Corporate Earnings
Large banks kicked off the quarterly earnings season, reporting declines in profits as they hiked loan loss reserves and saw a contraction in consumer credit card use. The large loan loss reserves represent a sobering view on just how much the banks believe small businesses and consumers may be affected by the economic downturn.[4]
Final Thought
With bank earnings reports, investors got an important - but limited - view of the state of the economy. This week's earnings reports are expected to provide a much broader cross-section of the economy, with a number of consumer products, technology, industrial, transportation, and communication services companies reporting.[5]
Blattel News
Notes From Our Office
We hope this newsletter finds you safe, healthy, and in good spirits. Please keep sharing 
with us  how you  and your families are doing. The Blattel & Associates team  and 
their families  are  all doing well  (even if Bob is going a little stir crazy). Have a great week!
New SEI Statement Format.   Your SEI statements have a new look this quarter. This redesign's goal is to enhance the client experience by giving statements a consistent look and feel with AccessMyPortfolio, as well as address client feedback. Please call or email us if you have any questions when you look at this quarter's statement.
All Remote Meetings.  We are still meeting with clients during this time. As we have previously announced, we have changed all of our in-office meetings to phone calls. We have now extended this through May.
Electronic Signatures.  We encourage you to embrace signing and submitting paperwork electronically as much as possible.  We will talk you through the process if it is something you haven't tried before. 

SEI Commentary: Is it time for a small-cap comeback?
SEI put together this commentary that we would like to share with you. Here are the main three points.
  • The speed and magnitude of the recent market decline were historical.
  • Panic-driven liquidations appear to be indiscriminate to everything but size
  • SEI believes this presents an opportunity for active management over the next 12 months as markets begin to normalize.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act Resources

"Sometimes you will never know the value of a moment, until it becomes a memory."
- Dr. Seuss
Marinated Beef Kebabs

Serves 4 to 6
  • ⅓ cup olive oil
  • ⅓ cup soy sauce
  • 3 Tbsp. red wine vinegar
  • ¼ cup clover honey
  • 2 cloves garlic, minced
  • 1 Tbsp. fresh ginger
  • Pepper, to taste
  • 1½ lbs. top sirloin steak 
  • 1 large bell pepper
  • 2 medium red onions
  • 1lb. button mushrooms
  1. Cut steak into 1½-inch cubes.
  2. Mix olive oil, soy sauce, vinegar, honey, garlic, ginger, and pepper into bowl.
  3. Marinate steak and chill in refrigerator overnight.
  4. Soak bamboo skewers in water for one-half hour before you grill. (You don't want them to burn too much.)
  5. Cut vegetables into chunks, similar size to steak.
  6. Skewer meat and vegetables.
  7. Optional: add remaining marinade to skewers.
  8. Grill on high heat for 8 to 10 minutes.
  9. Let meat cool before serving, about five minutes.

Recipe adapted from [6]

Maintaining Your Mental Mastery

As many of us are staying indoors, for the time being, the monotony of isolation might have your brain feeling a bit foggy. Curious about how to perform some cognitive calisthenics? Check out the following tips to find out.
  • Keep your heart healthy. Good cardiovascular health allows for the optimal delivery of oxygen and other nutrients to the brain.
  • Get some rest. Seven to nine hours of sleep every night gives your brain time to recharge and rejuvenate.
  • Eat well and exercise. Doing so has a positive effect on your entire body.
  • Engage with others. Social time can reduce stress.
  • Learn a new skill. Neural connections are built when we challenge ourselves. There's more benefit to doing this than mindless, repetitive brain "exercises."
Aside from helping you out while in quarantine, these tips may help you maintain your cerebral sharpness as you get older. Who knew that keeping your mind fit and flexible could be so much fun?
Tip adapted from[7]

Share the Wealth of Knowledge!
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