In the first half of 2020, we saw the U.S. unemployment rate jump from 3.5% up to 14.7%. During the depths of the downturn, just under seven million unemployment claims were filed in a single week. The market’s 38% downturn was followed by a 43% rise. There were 103 bankruptcies filed as of June 1, 2020 and the price of oil went from $40 down to -$37.
