
New Year Remainders: 2021 is Finally Here!
With 2020 in the rearview mirror, Legacy One would like to remind clients to look ahead and continue to focus on their long-term goal.
With 2020 in the rearview mirror, Legacy One would like to remind clients to look ahead and continue to focus on their long-term goal.
In November, the S&P 500 returned 10.9%, fueled by a sooner than anticipated resolution to the contested U.S. election and progression towards a vaccine. President-elect Biden and a Democrat-led House will seek to find common ground with a divided Senate.
The global pandemic, unprecedented government stimulus, a record low GDP report, booming technology stocks and a red-hot IPO market – 2020 has been quite the year – and it is not over!
U.S. dollar strengthened in September as the effects of existing monetary stimulus wane and expectations for fiscal stimulus before the election fade. Market participants bid up financial asset risk premia in response to mounting economic and political risks. We encourage investors to keep their investment horizon in focus and not allow emotions to influence portfolio positioning.
While it is common perception that the political party in the White House drives markets and the economy, history shows us that neither party can consistently be credited with superior economic or financial market performance.
The rebound in global assets continued in August, led by U.S. large cap equities, but value showed signs of life in Europe and China pulled emerging market equities into positive territory year-to-date.