JFL

March 31, 2021

Investment Outlook Q1 2021

Economic Review

  • The global economy continued to recover slowly with some regions such as the United States outpacing others like the eurozone.
  • Bond markets posted one of their weakest performances in history as rising government yields weighed on overall bond market sentiment.
  • In equity markets, the first quarter maintained the continuation of the recovery trends we saw during the second half of last year with ongoing optimism that the vaccine rollout will eventually quell the resurgent virus variants.

Investment Outlook

  • The second quarter should bring about a dramatic rise in vaccine availability in most major markets, hopefully paving the way for a return to a more normalized environment.
  • The unprecedented levels of support given as we have faced this pandemic are unsustainable over the longer term, and there will undoubtedly be consequences as they are tapered off. 
  • A patient long-term approach with risk management at the forefront will likely provide long-term benefits.

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