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On July 7, 2020
We hope this quarterly newsletter finds you and your family safe and healthy during these unprecedented times.
Markets staged a historic rebound in the second quarter driven by an initial peak in the growth of coronavirus infections in April; economic reopenings across the United States and the rest of the world, hopes for a COVID-19 vaccine, and continued stimulus from global central banks, including the Federal Reserve.
The end of the first quarter marked the lows for markets so far in 2020 as new coronavirus cases in the U.S. began to peak in mid-April thanks to the historic economic shutdown. That peak and initial decline in new COVID-19 cases throughout April gave investors and markets hope that the economic shutdown would not last into the summer and the S&P 500 rallied materially as a result, gaining over 12% in April.
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