Market Pulse – July 2020

KEY TAKEAWAYS

• The rally from the March crash extended through July, with the S&P 500 closing at a new month-end record high.¹
• The second quarter 2020 U.S. GDP print was bad, as expected, down 32.9% on an annualized basis.²
• U.S. Treasury yields continue to decline even in the face of strong equity returns.
• Many economic stimulus benefits expired at the end of July. Will Congress reach an agreement to provide the economy/markets with additional fiscal stimulus dollars?

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¹https://finance.yahoo.com/quote/%5EGSPC/history?period1=-1325635200&period2=1596326400&interval=1mo&filter=history&frequency=1mo
²https://www.statista.com/chart/22426/long-term-gdp-growth-in-the-united-states/