Update for July 2020
Investment Commentary: Second Quarter 2020
Last quarter was another difficult one as efforts to slow the spread of Covid-19 led to the partial closure of our economy. Many of the most financially vulnerable Americans were hit the hardest. Further complicating the situation was the escalation of racial tensions in the wake of the death of George Floyd. Despite these tragic events, investors have seen a significant rebound in their account values as unprecedented monetary and fiscal policies have seemingly stemmed fears that the current economic slowdown will be long lasting.
Economic Review & Outlook
The economic data released over the past couple of months has been some of the most startling in history. Looking at the employment picture, the job losses in March and April wiped out the entire number of jobs created since September 2010. Fortunately, many of these job losses are expected to be temporary and the rebound has already begun with more than 2.5 million jobs recovered in May. Another 4.8 million jobs returned in June. Thus, the recovery is underway, but how long it will take is still completely unpredictable.
Three Common Stress Responses to Financial Uncertainty and What to Do About It
It’s a universal truth that we learn things about ourselves during difficult times. So, perhaps now is the time to better understand your relationship with money so you do not let your stress behaviors derail your financial game plan.
Q2 2020 Investment Review Webcast
On July 6th, 2020 we hosted our Q2 2020 investment review webcast. This webcast provided a recap of how the financial markets closed out the second quarter, as well as a real time update on how some of the investment managers in your accounts are navigating the current market environment. The replay is available to watch now.