Economic Updates

Keep up to date on the global economy and its impact on markets.

Markets wrestle with policy versus the pandemic

Markets wrestle with policy versus the pandemic

Q2 2020 | Capital Markets Outlook

We are looking for progress in public health and credit market indicators as policy responds to the economic shock surrounding the pandemic and efforts to contain it.

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A bull or bear market for bonds?

Q2 2020 | Fixed Income Outlook

An extremely sharp global downturn is unfolding as the coronavirus pandemic takes a toll on economic activity and sentiment.

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Mid-year insights: Assessing the risks

Q3 2020 | Equity Outlook

We discuss the potential impact of a second wave of the coronavirus and we offer insights on how businesses are faring as COVID-19 restrictions are eased.

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Economic Update for July 6, 2020

Economy
  • Pending home sales surged 44.3% in May, the National Association of Realtors reported.
  • The Markit U.S. Manufacturing PMI rose to 49.8 in June from 39.8 in May.
  • The trade deficit widened in May, the Census Bureau noted.
Employment
  • The U.S. added 4.8 million jobs and the unemployment rate fell to 11.1% in June from 13.3% in May, according to the Bureau of Labor Statistics.
  • Initial jobless claims reached 1,427,000 in the week ended June 27, 2020, the Department of Labor reported.
Profits
  • As of June 30, 2020, of the 14 S&P 500 Index companies reporting second-quarter earnings, 12 beat analysts’ estimates, according to S&P Dow Jones Indices.
Emotion
  • The European Commission reported that the Economic Sentiment Indicator for the euro area recovered in June.