Last year began with complacency and ended with extraordinary market optimism.
In March we witnessed stockmarket meltdowns. The second quarter saw a huge drop in output and incomes in most of the advanced world as economies were put into lockdown to tackle the pandemic. As the year moved to a close, there was more share buying on the back of news that vaccines were to be rolled out soon, enabling some return to normality as we live through 2021. Calastone: Vaccine causes second highest equity flows ever So what do we make of shares for 2021? Some say we should be positive, as there will be recoveries in many economies. Central banks are likely to keep inte...
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