2021! – January 2021

Poor 2020. You get no respect. You were ushered in with great fanfare, but became a target of contempt and marked as a year that will live in infamy.

It wasn’t all bad, though. You did deliver for investors. Who would have thought, with everything that transpired, that the S&P 500 would finish the year up 18% on a total return basis! And the positive YTD returns were achieved in the final two months of the year!

Strange Times – July 2020

When we wrote our previous market commentary back in March, we were hopeful that the financial markets would quickly recover from the exogenous shock of COVID-19.  Broadly speaking, US stock and bond markets have largely recovered.  At this juncture, though, many are questioning the sustainability of the recovery in financial markets absent a full economic reopening.