We consider why the US equity market has made such strong advances in a highly uncertain environment.

While Covid-19 meant that new-year fireworks celebrations were scaled back, markets saw some pyrotechnics during 2020’s final quarter.

We look at three macro trends that investors need to be aware of.

Our Real Return team considers the investment backdrop.

For much of the quarter, financial markets also appeared to have returned to business as usual.

Equity markets appeared at times to be detached from reality as they rebounded strongly during the second quarter.

Our Real Return team considers the investment backdrop.

Our Real Return team considers the investment backdrop.

In 2015 American philanthropist Bill Gates warned of the potential threat a pandemic posed to the global economy.