Expressing optimism about the economy's gradual recovery prospects, City National Bank's investment team told clients the United States is moving away from severe coronavirus shutdown status and toward a "middle ground," with greater, albeit limited, business and social activity.
"This middle zone is where we're going to be living our lives for an extended period of time – months and months and months," said Garrett D'Alessandro, CEO of City National Rochdale, the bank's investment advisory organization, during the bank's weekly market update on Wednesday.
"We're not going to Madison Square Garden or Dodger Stadium for a long time."
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Your Market News update for May 30, 2019 | View online Market News News that's moving the market now As Trade-War Worries Linger, Market Seems to Lack Buying Conviction May 30, 2019 8:40 AM | JJ Kinahan 6 min read | Daily Market Update