Succinct Summary: The first few weeks of September are usually filled with conferences where companies talk about long term industry trends. This year it's hard to look long term because things have been moving so fast. Still, the Covid rush seems to have calmed down some and the US is getting comfortable with a new normal. The big question on people's minds: do we ever get back to the old normal?
Succinct Summary: The last week of summer before labor day is usually one of the slowest weeks of the year but this year it feels like things are moving at an incredibly fast pace. Companies are looking to the future and beginning to permanently rationalize their cost structure. Business travel budgets are likely to be cut for a long time. Temporary layoffs are also becoming permanent. In the near term economic activity is still very strong though. We're seeing a terrific end of the summer. And the Fed is hoping it stays that way in the fall. Editor's Request: This weekly newsletter is made possible by donations from our readers. If you like what you are reading, click here to donate (Our suggested donation: $10 per month). Help us keep The Transcript going.
Succinct Summary: The story has been the same for most of this year. Consumer spending and sentiment remains strong while business investment and sentiment stay weak. There may be signs of an industrial uptick in China though.