Market Commentary

Q3, 2020


  • COVID-19 remains a critical health issue that is creating an uneven recovery across the U.S. economy and capital markets.

  • The Federal Reserve, Treasury, and federal government are making policy decisions that are dictating crucial capital flows, creating an abundance for some and a dearth for others.

  • Even though equity valuations remain high and bonds yields low, a renewed commitment by monetary and fiscal policymakers will continue to flood the markets and economy with money, which should continue to support markets, but there will be winners and losers.

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