- The US economy has recovered for some and is still deeply wounded for others. That is one of the large, looming issues for 2021.
- If you're at an upper income level, you are probably whole in financial terms. The middle cohort has experienced some setbacks and losses. But those at the lower income levels are still really suffering.
- Traditional methods suggest markets are extended. But a longer-term view that sees very low interest rates tempers the downside risk. It will all depend on the progression of earnings, in our view.
For further details see:
CIO Overview - 2021 Market And Macro Outlook