Coronavirus Update from Commonwealth CIO Brad McMillan, September 18, 2020

Brad McMillan, Commonwealth’s CIO, provides an update on the coronavirus, including the economic and market implications. This week, we had some mixed news on the medical front. Although the pandemic remains under control, case counts have started to rise again, as post-Labor Day infections begin to register and as schools and universities reopen. Still, case growth remains well below July and August levels, and the positive test rate has continued to decline and is now around the recommended 5 percent level. Turning to the economy, the recovery continues, but it looks likely to slow. Improvement in the jobs market remains a relative bright spot, although job growth is slowing even as layoffs remain high. Consumer confidence also remains at low levels, and consumer spending has ticked back down again. So, have markets readjusted their expectations as the risks have moved back into focus? Watch this video to learn more. Follow Brad at blog.commonwealth.com/independent-market-observer.