Economic Update 11-09-2020
- Economic data for the week included a stronger-than-expected employment situation report, and rising manufacturing and construction activity, yet slightly decelerating results for services.
- U.S. equity markets gained strongly, with the Biden Presidential win and Congressional composition pointing to a status quo policy outcome. Foreign stocks followed, helped by a weaker dollar. Bonds were generally positive as well, with lower long-term interest rates and tighter credit spreads. Commodities also gained due to currency effects, although crude oil prices remain challenged.
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LSA Connect, November 9, 2020
