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Integrated Insights -- Week of April 5

Integrated Insights -- Week of April 5

April 06, 2021

U.S. stocks extended gains last week amid expectations for a solid March payrolls report that was indicated higher by the largest monthly increase in private sector hiring in six months (+517,000). Meanwhile, Wall Street welcomed the release of President Biden’s $2.25 trillion infrastructure proposal, even as some participants support a more limited plan with spending solely directed to infrastructure and smaller tax hikes.

As spring blooms, there is hope that virus numbers will continue to abate as the economy re-opens.  Vaccinations & stimulus could lead to a stronger recovery in GDP, but there is no historical corollary for this recovery.

Here's what we're reading this week:

Weekly Commentary -- Sustainable investing: it’s a long game -- BlackRock

  • The BlackRock investment team sees sustainability as a key driver of long-term asset returns even as other drivers could be more powerful in the near term, such as the economic restart.

  • The White House announced a $2.25 trillion jobs and infrastructure plan, adding to the unprecedented fiscal support since last year.

  • U.S. services sector activity data will be in focus, as consumer confidence has returned to pre-Covid levels against the backdrop of rising Covid infections.

10 Things You Should Know About the 2021 Stimulus Package -- Hartford Funds

Hartford Funds highlights 10 key items to understand about the American Rescue Plan. Of particular note is how the funds are targeted:

Thoughts Around the Infrastructure Proposal -- Cetera Investment Management

Cetera looks at some of the key areas in President Biden's Infrastructure Plan.  Infrastructure spending has been cited as a key need by several of the previous administration. Coming on the heels of the global pandemic, the hope is that the plan can also spur significant job growth.

As noted by Cetera Investment Management:

  • Recently announced $2 trillion infrastructure proposal will not likely pass quickly.

  • Expect economically sensitive asset classes, sectors and industries to benefit.

  • Infrastructure spending should further help this economic recovery broaden.