The global economy remains marked by uncertainty over the trajectory of the global pandemic, yet the power of the virus to shock has diminished substantially. Even as U.S. deaths passed the grim milestone of 200,000, many schools resumed some fashion of in-person instruction; businesses are chomping at the bit to reopen. Markets have been buoyed by rock-bottom interest rates, better-than-expected corporate earnings, and meaningful rebounds in housing, employment and other economic data. For students of human resilience and market optimism, it has been a dizzying year. For stewards of client capital, enormous challenges remain as we survey a landscape of elevated valuations across major asset classes, political disarray, and persistent questions about when and how we will tame this virus.
Quarterly Market Outlook
The Clear Harbor Market Outlook is a quarterly market update.