The journey back to normalcy will likely be punctuated with stops and starts. But opportunities will emerge—and being in a position to capture the upside is key.
While there is still a long path to recovery, global June flash PMIs confirmed we have passed the trough as contraction eased. The U.S. Employment report will be released next week, and the pressure is on for Britain and Japan to come up with a deal.
Advisors exhibited behaviors consistent with longer-term trends across the board. Allocation to cash remained unchanged this week at 4.09%.
Demand for responsible investing opportunities continues to grow rapidly. The current environmental and political landscapes seem to be important factors in driving investors' decisions.
U.S. Treasury yields ended the week modestly lower, led by longer maturities. Markets appeared focused on escalating coronavirus concerns, despite generally stronger U.S. economic data.
Stock prices have roared back strongly through the second quarter, as investors grew increasingly optimistic over prospects for economic reopening and the unprecedented monetary policy support that provided a strong tailwind for equities.
The COVID-19 shock is accelerating structural trends in inequality, globalization, macro policy and sustainability. This is fundamentally reshaping the investment landscape and will be key to investor outcomes.
Read the Weekly Market Snapshot to stay up-to-date with stock markets and sectors, bond market returns and financial news for the week.