Asset Allocation Update

Also Interesting

• Weekly Market Recap
• Covid-19 index: when might life return to ‘normal’?
• Real Estate Summary

Reality bites?

The collapse across asset markets at the end of last year was surprising in the context of decent above-trend economic growth across the major blocs, muted inflationary pressures and expanding corporate profits. Certainly, global equities suffered the sharpest (volatility-adjusted) annual loss since the global financial crisis struck over a decade ago, ending the year with the worst December on record. US Treasuries experienced only the fifth negative return in 30 years, and investment grade credit returns were the poorest since the late 1990s.