BCA Weekly Commentary 7/03/20
SUMMARY. During the week we saw rebounding economic data as the unemployment report showed signs of rehiring, manufacturing rebounded and housing strength continued. Fears of second wave Covid-19 continued as cases over all continued to rise although deaths declined.
INVESTMENT IMPACT. During the week we added to our equity holdings slightly with no major changes in our thinking. We continue to stay focused on vaccine trial data forthcoming as that may hold the key to the direction of the economy. We expect by Summer's end to see more definitive positive results which we believe will be reflected in model portfolio holdings which are tied to the reopening. We are maintain the belief that rising cases aren't a surprise and acknowledge it has slowed reopening, but not to a large extent to change our review that reopening will continue into Fall. We expect lower than normal model equity exposures until we gain more visibility.
Our model portfolio performance has been updated on our website as of 6/30/20.
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