In his latest memo, Howard Marks walks readers through the unusual characteristics of this year’s economy; the impact of Covid-related monetary and fiscal policy actions, including low interest rates, on today’s markets; and the possible ramifications of the Fed/Treasury’s rescue efforts.

What does it all mean for investors who face an environment marked by some of the lowest prospective returns in history? Read Coming into Focus for Marks’s perspectives. 

https://www.oaktreecapital.com/docs/default-source/memos/coming-into-focus.pdf