Our Weekly Podcast and Market Overview from Quilter Cheviot

Optimism Abroad

By Alan McIntosh, Chief Investment Strategist

“Global equity markets were mostly up last week, with the US posting another series of all-time highs on Thursday. Optimism about vaccine rollout and signs that the long-awaited US stimulus package was about to be signed off contributed to the positive tone. In the UK, the pound strengthened as the mood music over a Brexit trade deal improved. Sunday evening did indeed see Congress agreeing a $900 billion relief plan which will once again include direct payments to households as well as supporting small businesses. However, this was overshadowed by the news that parts of the UK were moving into a new tier of COVID-related restrictions and that citizens’ movements around Christmas would be significantly curtailed. A new strain of coronavirus looks to have a higher transmission rate and has been spreading fast in the south-east of England. Monday saw the pound and the stock market fall sharply as concerns over the possibility of another prolonged lockdown rattled sentiment. What a hugely disappointing end to the year…”

Read more here… Quilter Weekly Comment – Optimism Abroad