Trader Peter Tuchman wears a “Dow 30,000” hat as he works on the trading floor on November 24, when the Dow Jones Industrial Average closed above 30,000 points for the first time as progress in the development of coronavirus vaccines and news that the transition of power in the US to President-elect Joe Biden will finally begin kept investors in a buying mood. Photo: New York Stock Exchange via AP
Trader Peter Tuchman wears a “Dow 30,000” hat as he works on the trading floor on November 24, when the Dow Jones Industrial Average closed above 30,000 points for the first time as progress in the development of coronavirus vaccines and news that the transition of power in the US to President-elect Joe Biden will finally begin kept investors in a buying mood. Photo: New York Stock Exchange via AP
Patrik Schowitz
Opinion

Opinion

Macroscope by Patrik Schowitz

Despite the coronavirus, equity markets have had a bumper year. Will 2021 be as spectacular?

  • Asset markets will have to transition from an environment fuelled largely by emergency policy support to one driven by real economic recovery
  • The likely recovery in corporate profits in 2021 is unlikely to lead to another period of outsize equity gains, as much of it is already priced in

Trader Peter Tuchman wears a “Dow 30,000” hat as he works on the trading floor on November 24, when the Dow Jones Industrial Average closed above 30,000 points for the first time as progress in the development of coronavirus vaccines and news that the transition of power in the US to President-elect Joe Biden will finally begin kept investors in a buying mood. Photo: New York Stock Exchange via AP
Trader Peter Tuchman wears a “Dow 30,000” hat as he works on the trading floor on November 24, when the Dow Jones Industrial Average closed above 30,000 points for the first time as progress in the development of coronavirus vaccines and news that the transition of power in the US to President-elect Joe Biden will finally begin kept investors in a buying mood. Photo: New York Stock Exchange via AP
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