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Coronavirus Update: July 17, 2020 [Video]

Posted by Brad McMillan, CFA, CAIA, MAI

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This entry was posted on Jul 17, 2020 2:40:35 PM

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Today, I'd like to provide an update on the coronavirus, including its effect on the economy and markets. On the medical front, it was another bad week. The viral outbreaks continued to get worse, with several health care systems getting close to capacity. So far, however, most of the damage remains localized. And with affected states starting to impose restrictive measures, we’ve started to move in the right direction, and the likelihood of another national shutdown remains small.

Turning to the economy, things were better. Layoffs continued to decline, and job growth remained strong. Plus, consumer confidence recovered sharply, which has supported spending growth. In fact, the most recent retail sales report showed that consumer retail spending is now back to pre-pandemic levels, which is a remarkable recovery. So, how have the markets responded? Watch my latest video to learn more.

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