Market Update Jan 2021

Happy New Year! We hope everyone enjoyed the holiday season and are staying safe and healthy. 2020wasanunprecedentedyearintermsofaglobalhealthpandemicandfinancial markets’ reaction to the pandemic and other global events. The end of 2020 has brought a simultaneous dose of elevated near-term COVID-related pain and suffering (due to the virus’ aggressive resurgence) as well as hope (in terms of extremely positive vaccine trial data and expectation of worldwide mass rollout by the second half of 2021). Equity markets rallied significantly to close the year following the positive vaccine trial announcements (beginning Nov. 9, 2020) and the US presidential election. As we begin 2021, we want to brief you on market and economic developments, highlight the political and health backdrop, and update you on our views going forward.