Cliff Notes - Best Month Ever

December 7, 2020

In This Week's Update:

  • Positive news on vaccine development and the formal start of U.S. President-elect Joe Biden’s transition to the White House drove global stocks to record highs. US Small Cap stocks will have their best month ever. 
  • The expected nomination of former Fed Chair Janet Yellen as the Treasury Secretary also helped lift the mood. Yet the rally fizzled after disappointing jobs data pointed to a slowing of the restart as the virus surges around the U.S.
  • We still expect the cumulative economic hit from the Covid shock will be just a fraction of that seen in the wake of the global financial crisis.

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