The rebound in the economy is very strong through June but is going to be affected by the increase in the cases of the virus.
The surge in economic activity that began in May, accelerated in June. The data released last week and the expected reports due out this week have reflected a rebound close to the “V” shaped recovery some had been forecasting. The issue is; will this rebound continue over the next three months? The surge in new reported corona cases in several states may cause closing of the economies in those areas. It is clear most people do not want a complete shutdown of the entire U.S. economy if at all possible. The surge in new cases is enough to force closings in those areas mainly in the south and southwest. Investors seem to be ignoring the surge in the virus.
PROBANK AUSTIN ADVISOR - JULY 20, 2020