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It’s still way too early to tell what the long-term ramifications from the pandemic are going to be but one thing is for certain — it’s speeding up trends in the real estate market. I think we could look back at the pandemic as a turning point for the housing market.
-- Ben Carlson

For the last 30 years, bonds offered attractive diversification benefits when equities declined. But those days are over. Bonds have become much less useful in asset allocation since yields in most developed markets are low or negative. The end of the fixed-income bull market also dampens the return outlook for such leveraged asset classes as private equity and real estate, which rode high amid declining interest rates.
-- Nicolas Rabener, Factor Research

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Managed Futures ETFs Are Having A Good Year So Far

The issue now is just how much more can be asked of this stock cohort at this stage. Apple gained 10% Friday after its results but Amazon failed to rise even 4% and sits below its July high. A faint hint that most of the stupendous business performance is largely in these stocks by now? The Nasdaq 100, too, has surrendered a couple percentage points of outperformance versus the firm but range-bound S&P 500 over the past few weeks.
-- Michael Santoli, CNBC

Circus Circus, Tropicana give workers notice of possible layoffs

MGM Resorts says 'large majority' of employees in the entertainment, sports division will be fired

Deere to lay off workers in Waterloo, Davenport

Dayton-based American Airlines subsidiary to lay off nearly 700

Layoffs and lawsuits: Colleges resort to last-ditch efforts to stay afloat

With USAA employees working from home, food service vendor to lay off 319 employees

BNA, Bridgestone Arena food vendor cuts nearly 600 Tennessee jobs

Microsoft Layoffs Confirmed Across Its Divisions

Nike announces sweeping changes, first details about layoffs

 

Growth Stocks divided by Value Stocks
Vanguard Growth ETF (VUG) divided by the Vanguard Value ETF (VTV)

It must be close to a hundred degrees today in Portland, so I am spending a good portion of the day modeling new retirement portfolio options for myself and my relatives, since we're all mostly in cash right now. The challenge is that growth stocks, as represented by the Vanguard Growth ETF (VUG), have so dominated value stocks (again, using a Vanguard ETF) that modeling portfolios based on historical data becomes very skewed toward growth. Everything looks substandard, compared to allocating 100% of the portfolio into big-cap growth!

 

Another 1.4 million Americans filed for first-time unemployment benefits last week, marking the first increase in initial claims in 16 weeks.The weekly first-time claims peaked at 6.9 million in the last week of March and feel continuously until last week, when the trend reversed. Economists had predicted claims to remain steady at 1.3 million, the same amount as in last week's report.
-- Anneken Tappe, CNN Business

The housing market looks strong for now. There were 22 percent fewer homes for sale during the week ending July 4 than there were at the same time last year, according to Zillow, and ultralow interest rates have ensured steady demand from buyers. Low supply and high demand have had a predictable effect: Home prices are still climbing.
-- Andrew Van Dam, WaPo

Related:
Real estate had been holding up well
People are staying in their homes longer