May – June 2020

U.S. Economic and Market Highlights

The Economy:

  • Improving economic data has helped stocks continue to climb despite daily new COVID-19 cases in the U.S.
  • The U.S. labor market added 4.8 million jobs in June versus economists’ expectation for 2.9 million, while the unemployment rate fell to 11.1% in June from 13.3% in May. Read more

April – May 2020

U.S. Economic and Market Highlights

The Economy

  • Most developed countries saw Gross Domestic Product (GDP) turn negative in the first quarter due to the economic impact caused by widespread shutdowns to ward-off the Coronavirus outbreak. It is almost certain that the second quarter GDP will be negative in most countries, triggering a technical global recession.

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March – April 2020

U.S. Economic and Market Highlights

CORONA VIRUS RESPONSE

  • For the short-term, the market remains fixated on the virus outbreak as well as policy response. Shutting down the global economy is not a viable long-term solution. The current economic “pause” across developed market geographies should buy time to slow down the spread of the virus, and enable governments to cushion the slowdown with stimulus.

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