Market Overview: From the Desk of Robert Vanderhooft (CIO)

Published: 01/06/2020

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Last week, U.S. equities broke to the upside following multiple weeks of trading in a sideways pattern. Optimism over a reopening global economy, vaccine advancement, and slowing trajectory of new COVID-19 infections, has spurred the market's rise. Unprecedented levels of central bank stimulus also remain a tailwind to asset valuations. While the recent rebound has been sharp, we remain cautious near-term in the absence of an "all clear" signal for the global economy and as the optimism in equities has pushed valuations arguably to the higher end of fair value.

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