As we look forward into 2020 and beyond, we thankfully see the beginning of widespread distribution of a vaccine against COVID-19 and the peaceful transfer of political power after a very contentious election. Yet the prospects for global economic growth are still uncertain and highly dependent upon both the speed at which the pandemic is brought under control and the effectiveness of government policy responses . Equity market valuations in the U.S. are high by most historical measures and fixed income yields are near historical lows. The long-term effects of high levels of global debt on the direction of interest rates, future inflation, and global credit quality are hotly debated.
In this podcast, we describe three potential economic and market scenarios for 2021 and beyond, contemplating how our portfolios might perform in each of these alternative paths. Recognizing the fluidity of our healthcare, economic, and social outcomes over the coming quarters, we suggest several steps investors might consider in positioning their portfolios to deal with ongoing uncertainty.
- Speaker: Jack Parham – Chief Investment Advisor, Eton Advisors Group
- Host: Greg Dixon – Marketing Consultant, Eton Advisors Group