Well, we expected a week full of fireworks and the “show” has not disappointed. Let’s start with what some might call a debate, but I think we all know it was far from that. My 3 teenage boys sat intently with me, not sure what to expect I believe, in what turned out to be a true spectacle. At one point I was even asked the question, “Dad, is this normal? No, this is certainly not normal” was my quick reply. Like many of you, I am uncertain as to what direction we are heading as the divisive and chaotic nature of things continue. As I write this, the President and First Lady have tested positive for Covid-19 which only further complicates the weeks ahead. Will the other debates go on as planned? That is yet to be determined but certainly changes to the format are likely at this point. Civility and respect are the lessons I hope we all can take away from this mess, at least that’s what we are reiterating in our home.
From an investment perspective, the forward-looking outlook on both fiscal and monetary policies appear to be in limbo as we near election day. We are working on a more detailed “election” piece that should help to illustrate the pros and cons of a few scenarios that could play out post November 3rd. In the meantime, Pennsylvania is a popular place to focus on and considered pivotal by both parties to win the election. Whichever candidate takes Pennsylvania may have a clear path to the ultimate prize in many of the forecasts we have seen thus far. Stay tuned for more on this. While we have seen a few volatile days this week, things have remained relatively tame considering the election backdrop. There is a renewed interest now in getting more stimulus into the hands of individuals and businesses. I suspect the news from overnight regarding the White House will only spur these talks into a higher gear. What seemed like a distant dream only days ago now appears to be more of a reality than ever given the headlines. There are now incentives for both sides to negotiate a deal.
We continue to monitor our investment holdings closely and have begun to do some rebalancing while keeping in-line with our overall objectives. We know that this remains a time of stress for many. As your trusted advisors we are here to help alleviate some of these pressures and keep you on track for your individual financial goals. You are not alone in this journey. We welcome your phone calls, Zoom sessions, and emails anytime!
Be well and stay healthy!