Brad McMillan, Commonwealth’s CIO, recaps the market and economic news for May. Last month, we saw real progress in the coronavirus, which allowed the economy to begin reopening. Hundreds of thousands returned to work, people began to shop again, and confidence started to stabilize. In turn, U.S. markets rose to just above their long-term trend line and are now fully expecting a V-shaped recovery. But how will markets react if a second wave of infections occurs or spending doesn’t return to normal levels? Stay tuned to find out. Follow Brad at blog.commonwealth.com/independent-market-observer.