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Analysis of evolving market themes.

Vaccine not in time for jobs recovery

The U.S. labor market continues to lose steam as fewer Americans were able to find work amid surging Covid-19 cases.

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Record-setting muni issuance pauses post-election

Muni issuance pauses post-election, but reinvestment demand typically increases near year-end.

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Economic Update for January 11, 2020


  • The Markit U.S. Composite PMI Output Index fell to 55.3 in December from 58.6 in November. ...

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Temporary Mail Service Disruptions to Certain Countries Due to the COVID-19 Pandemic

Pursuant to the Security and Exchange Commission's Staff Statement Regarding Temporary International Mail Service Suspensions to Certain Jurisdictions Related to the COVID-19 Pandemic, Putnam Investments will be delaying mailings to affected shareholders. For a copy of the SEC's statement, click here.

As of December 18, 2020, the United States Postal Service is unable to deliver mail to the following countries or territories: Angola, Azerbaijan, Brunei, Central African Republic, Chad, Cuba, French Guinea, Guadeloupe, Laos, Liberia, Mauritius, Martinique, Myanmar, Panama, Republic of the Congo, Reunion (Bourbon), Saint Pierre and Miqueolon, Seychelles, Sierra Leone, South Sudan, Tajikistan, Timor-Leste, Turkmenistan, Turks and Caicos, and Yemen. For a current list in international mail service suspensions, click here.

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