Hear timely video updates from CIO, Rick Lacaille, on market moves, policy changes and more.
The US employment recovery continues. Canada’s April GDP contraction smaller than expected. UK’s first quarter contraction a little worse than initially reported. Consumer spending rebounds in Germany and France. Japan’s TANKAN survey revised FY20 profit, sales forecasts sharply downward. Australian retail sales jump.
Whew…what a half-year! The COVID Crisis has exposed underlying inequalities and revealed insecurities, despite emerging after the longest expansionary business cycle of 128 months. Unprecedented GDP declines, locked in consumers and locked out workers, sectoral shutdowns (travel, hospitality, recreation, transportation etc.), and high unemployment have characterized the past quarter.