Daily Market Commentary

September 16, 2020

Bonds
The Fed's updated strategy places less importance on low unemployment rates as an indicator of future inflation, adopting instead an "average inflation targeting" framework.

Economy
The rebound in U.S. retail sales slowed by more than expected in August as federal relief for jobless Americans and small businesses dried up and the pandemic continued to weigh on activity.

World
The global economic slump won't be as sharp as previously feared this year, though the recovery is losing pace and will need support from governments and central banks for some time yet, according to the OECD.

The information represented herein was obtained from various sources, which we believe to be reliable. Neither the information presented nor opinions expressed constitutes an offer to buy or sell any security. And it is not intended to guide the investor on which securities to buy, or when to buy or sell.

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