QuarterlyEconomicReportPublishedinQ12020,2,SVBAssetManagement|QuarterlyEconomicReportQ120200120-0030MS-073120,ThoughtsFromtheDesk,Asweclosedout2019,thelastyearofthedecade,andfourconsecutiveyearsofmonetarypolicyaction(firstwiththeperiodofsustainedratehikes,thentheswiftpivotintoratecutslastyear),manywereanticipatingarelativesenseofcalmintheratesmarketforthefirsthalfof2020.Itistruethatheadwindshaddiminishedheadingintotheyearnotably,withprogressbeingmadeonthetradefrontthroughthePhaseOnedealenact
