Market Commentary – Q2 2021

July 9, 2021

The global economic recovery continued its acceleration in the first half of 2020, though unevenly in some regions where lagging vaccination rates and the emergence of the “Delta variant” have driven up case numbers. In the U.S., the robust recovery has continued largely unabated. The Atlanta Fed’s GDP tracker is forecasting Q2 growth to reach 10%, while the Fed projects total year GDP growth of 7%. Economic output came close to pre-pandemic levels in early spring, so Q2 will almost certainly surpass 2019 levels of economic activity.

Our thoughts on the economic rebound’s trajectory in the second half of the year, as well as how mounting inflationary pressure and the actions of the Federal Reserve may impact the financial markets, can be found in our Q2 Market Commentary.

To read the full commentary, click here.