With the later summer months sending stocks higher, even as the global pandemic remains a clear and present threat. What will the rest of autumn bring?

Risk markets remain on track to continue their winning ways, and yet just under the surface, China trade tensions, an impasse on Capitol Hill, rising Covid-19 cases, and an election season like no other are bubbling up.

As Covid-19 causes the U.S. economic train to careen into the “third rail”, companies, states, and towns have turned to the primary markets to bridge financing gaps.

Following one of the quickest and sharpest drops from February’s all-time high to a bear market, U.S. equities staged an impressive run with the S&P 500 logging its best quarterly gain since the fourth quarter of 1998.

While government policies related to Covid-19 were initially focused on safety and flattening the curve, the race to reopen in order to accelerate spending and get the global economy back on its feet is facing a major test as U.S. cases rise at a rapid pace.

Resistance to a fourth round of economic stimulus is softening. We provide a brief analysis of what to expect should this legislation pass.

April brought belief that monetary stimulus would loosen financial conditions and May’s rally is reflecting improvement in the outlook for the economy.

Economic data is proving to be as bad as expected, and yet, risk assets in April rebounded to levels which seemed impossible in the depths of March’s declines. Could stimulus be enough to cushion the blow of massive job losses and a decimated consumer?

Through the first quarter of 2020 fixed income markets have withstood historic volatility. Our investment team reviews actions taken by the Fed, corporate and muni activity, and what our expectations are going into the second quarter.

The first quarter of 2020 closed with a bang. Our investment team reviews the equity markets performance with a deep dive into sector activity.