"Despite a volatile September that saw markets teetering on a 10% correction, markets rallied to close out the quarter strong. While the continuation of the strong performance in risk assets was a welcome development, it generated a distinctly different feeling than previous strong quarters in 2017 and 2019, almost melancholy in nature. Those quarters in 2017 and 2019 were widely celebrated, whereas this one felt more like a relief that the year 2020 was almost over. Therein lies the paradox of the strong recovery in capital markets that we have seen since March; strong performance normally elicits feelings of happiness and excitement, whereas the recovery in 2020 is more of a combination of relief and trepidation. Eight to nine months of rolling lockdowns and isolation to combat the coronavirus and yet, at the time of this letter, 7,587,000 of our fellow Americans have contracted COVID-19 and 212,000 have ultimately succumbed to the virus..." Click here to finish reading the Q3-20 Market Commentary.
Prepared by Schneider Downs Wealth Management Advisors, L.P.