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While the rest of the world remains far from “open for business” due to continuing struggles with Covid-19 – especially in the face of concerns over the newly emerging Delta variant – the US and much of the developed world are in great shape as we near the close of Q2 and the first half of the fiscal and calendar year.
Q3 will be the quarter most powerfully marked by the concept of “the Great Reopening in the US”, which is fitting given that it will also kick off with the July 4
th holiday. Q2 has been strong, and will no doubt represent peak earnings growth across the market on a year-over-year quarterly basis. But that is a consequence of the extreme lockdowns in place during April and May of 2020. Things were completely shut down.