Sage Advice Tactical ETF Quarterly Market Review 3Q2020

Markets may have struggled during the second half of Q3, but the global economy did not, with data continuing to show evidence of a strong rebound led by the U.S. Most major data releases in the U.S. beat consensus expectations in recent months, and China has continued its recovery trajectory. Growth and virus concerns remain high for a hard-hit Latin America region and India, and we do expect moderation in Q4 growth as some of the initial rebound demand fades and certain stimulus programs phase out. The bottom line for investors is that the recovery is on track, and coupled with policy support, the likelihood of further stimulus, and a vaccine on the horizon, we suggest remaining positioned for further upside in equities and higher-yielding fixed income sectors.