From an investment perspective, 2020 has been one of those years where it may not have helped much to have been given the news headlines ahead of time.
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US employers added a record 4.8 million jobs in June, while the unemployment rate slipped to 11.1%.
The S&P 500’s second quarter gain ranks as its best quarterly return since 1998 and fourth highest since 1950.
In retrospect, the lockdown and initial reopening were relatively swift. A full recovery will not be.
The International Monetary Fund (IMF) downgraded its global economic outlook with a significantly deeper recession and a slower than anticipated recovery after that.