This month’s commentary examines contributors and detractors from first quarter performance, as well as recent portfolio shifts, in greater detail.
In the first quarter, US equities had solid gains as the outlook for economic growth in 2021 strengthened throughout the quarter. Massive monetary and fiscal support are providing record setting liquidity and stimulus. The efficacy of the COVID-19 vaccines is setting up a great economic reopening. The Director of the CDC recently warned that another potential wave of COVID cases was an “impending doom”, but the capital markets seem to be discounting an “impending boom”. Read more in our latest Small Cap Commentary.
In the first quarter, US equities had solid gains as the outlook for economic growth in 2021 strengthened throughout the quarter. Massive monetary and fiscal support are providing record setting liquidity and stimulus. The efficacy of the COVID-19 vaccines is setting up a great economic reopening. The Director of the CDC recently warned that another potential wave of COVID cases was an “impending doom”, but the capital markets seem to be discounting an “impending boom”. Read more in our latest Small Cap Commentary.