Commentary

The relative performance of US equities and the outlook for the Technology sector are closely aligned. This short note aims to highlight headline risks that the Technology sector may face in 2021. When allied to high valuations, these risks have the potential to impact relative performance not only of the Technology sector, but also of the S&P 500 itself. The…

Major crises often legitimise and cement radical policy changes. The 2008 Financial Crisis allowed quantitative easing to become accepted and in time to become mainstream. The current crisis has legitimised government deficit spending – financed by central banks. This policy shift may be a reflection of a change in societies’ priorities. The implications for nominal GDP, equities and bonds could…