AIIQ - Short And Sharp: 2020 - The Year When Nothing Really Changed (For Markets...)

• 2020 is the year we would all like to forget - and somehow, equity markets have already done just that.
• Valuations of most markets are once again extremely stretched, emboldened by ample central bank liquidity, and increasingly vulnerable to changing risk sentiment.
• It seems that this year and next will mark part one of the pandemic narrative: actively addressing the recovery at hand, with central banks playing an invaluable role in upholding positive market performance.
• Part two of the story will involve dealing with the inevitable hangover of policy, debt levels and dependency on low rates.

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