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Capital Market Outlook

October 13, 2020

IN THIS ISSUE

  • Macro Strategy — Labor Market Recovery Continues but Pandemic Headwinds Persist The economy should begin to strengthen with stronger‐than‐consensus gross domestic product growth, in our view.
  • Global Market View — A Waiting Game We observe ongoing economic developments in Brazil and Mexico which may offer opportunities for investors over the longer term.
  • Thought of the Week — On Watch: Nonfinancial Leverage Investors should consider what the U.S. business cycle expansion means for investment strategy and the duration of the overall business cycle.

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