Weekly Market Snapshot – August 3, 2020
Created by: Sam Tenney
- GDP growth came in at an annualized -32.9% reduction in GDP growth. This is the largest single quarterly drop in GDP in recorded data. ¹
- As of Friday, July 31st, Fitch Ratings has updated the US sovereign debt outlook to negative. While US debt still remains AAA rated at Fitch and Moody’s, as of August 2011 US debt was downgraded to AA+ by Standard and Poor’s. ²
- As of Friday, July 31st, the federal moratorium on evictions has expired. Currently, two out of five tenants in America are in danger of being served eviction notices, which could possibly drive real estate prices lower as selling increases in the future. ³
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