Investment Commentary June 2020

Following the pandemic-induced contractions in economic activity over the past few months, recent steps to reopen economies have resulted in a rebound in economic data across the major developed markets.

In the US, the most prominent example of this was seen in the labour market where 2.5 million people were hired in May.

That marked the biggest gain in nonfarm payrolls on record.  The job gains resulted in a drop in the headline unemployment rate to 13.3% from 14.7% in April.

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