This week may have brought an end to April, but the markets saw a turnaround from their March lows. The S&P 500 had it’s biggest one month gain since 1987, and it\'s third biggest monthly gain since World War II. With market volatility still dominant, the S&P 500 did start the month of May down closing at 2830 Friday, but one day does not make a month. On Friday, the FDA also announced that the Gilead drug, Remdesivir, is approved for emergency use to treat COVID-19. On the economic front and as expected, March consumer spending was reported down 7.5% and unemployment number is well north of 30 million claims since the pandemic began. Given all that we have been through, it is encouraging to see these medical advances and the cautious reopening of our nation. For TSP TIPS, we made two incremental increases in the C fund during April, and hopefully that momentum will carry over into May. If it does, look for an allocation increase next week.
This week may have brought an end to April, but the markets saw a turnaround from their March lows. The S&P 500 had it’s biggest one month gain since 1987, and it\'s third biggest monthly gain since World War II. With market volatility still dominant, the S&P 500 did start the month of May down closing at 2830 Friday, but one day does not make a month. On Friday, the FDA also announced that the Gilead drug, Remdesivir, is approved for emergency use to treat COVID-19. On the economic front and as expected, March consumer spending was reported down 7.5% and unemployment number is well north of 30 million claims since the pandemic began. Given all that we have been through, it is encouraging to see these medical advances and the cautious reopening of our nation. For TSP TIPS, we made two incremental increases in the C fund during April, and hopefully that momentum will carry over into May. If it does, look for an allocation increase next week.