One thing almost as uncertain as the COVID-19 pandemic to everyday Canadians has been the economy’s reaction to the spread of the virus.

Sharing his insights into the ever-changing world of stocks and finances, Warren Hope, an associate portfolio manager with Value Partners Investment Council in Swift Current, gave some of his insights into the markets.

He said that while the markets were doing poorly right now, some Canadians can see ahead to the eventual rise.

“It’s a bit of a mixed bag, when you look at younger Canadians, I think a lot of those are viewing this rapid market decline as a unique buying opportunity and I do have a number of clients who are looking at adding funds to their portfolios.”

“Overall, I’ve definitely noticed that Canadians are becoming more sophisticated. Many of my clients, for example, have already been through the tech crash in the 2000s and the 2008 financial crisis and now this, so people are starting to understand that these setbacks do happen and they’re typically temporary, and the success really comes from being patient.”

He said that while looking at the pandemic and the 2008 financial crisis, it is clear to investors that the global economy is interconnected in ways that stretch past borders.

In terms of the local economy, Hope, who also is a sitting member of the Swift Current & District Chamber of Commerce, said that the diverse business-scape of Swift Current has been faced with many challenges.

“Chiropractors, dentists, physiotherapists, hairdressers, massage therapists, all of these are small businesses, and with the shutdown due to COVID-19, all of these particular businesses would have seen their revenue go to zero all overnight.”

He went on to say that with physical distancing, the City of Swift Current wouldn’t be able to draw in customers with big events, and the Swift Current Broncos wouldn’t be able to draw in hockey fans.

Industries such as medical supplies have bounced back since the markets have levelled out, while tech companies such as Microsoft were affected little, according to Hope. He also said that he expects to see pent-up demand coming out of the crash which will help rebound the economy once things are back to the new normal.

In terms of oil and gas, he said that less work was available. He reminds that oil and gas were an inclimate industry to begin with. He said that his only question is when that market will rebound. He also noted that some oil and gas companies may go under and be reacquired by other companies.

For farmers, he said consumer demands were shifting away from restaurants creating an increase in potato storage due to lack of french fry production.

Meanwhile, meat producers are having trouble delivering their product to processors creating a higher meat price for consumers. The same could be said for vegetables.

He encouraged Canadians to re-evaluate their financial plans and risk factors as COVID-19 affects the markets.