Market Outlook · September 03, 2020

Are We Out of the Woods?

Brent Ciliano

CFA | SVP, Chief Investment Officer

1 Are we past the worst?

From both an economic and corporate earnings perspective, we believe we're past the worst.

2 Fits and starts...

Yet, we expect fits and starts along the path to recovery.

3 Consumer spending

Spending on goods, such as furniture and electronics, has sharply recovered while spending on services has lagged.

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