Market Notebook


Roughly speaking, last week could be considered a consolidation week for U.S. equities albeit one with elevated volatility. The bond complex was mixed depending on where in the term structure one were to look.

Slow recovery in the real economy continues to be a concern.

Corona virus infection rates as measured by indicate lost ground during the last week in the fight against COVID. Excess deaths as measured by the CDC appear to be declining in a manner best described by a normal distribution. The excess death data is a bit slower to come in than the data at It will be particularly interesting to see if excess deaths continue to decline in the face of what appears to be an infection bump higher. Anecdotally, we are seeing some issues at universities which could increase infection rates without negatively affecting excess deaths.

Expect continued volatility during the coming week.

Link to the CDC data:

Bookmark this COVID-19 site.


Cory Haupt

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