10 Apr 1Q 2021 Commentary: Throw the Confetti
- At the end of the quarter, investors were able to celebrate robust returns from riskier asset classes and continued commitment from policymakers to provide extraordinary accommodation.
- Another reason for the celebratory mood is the result of the great work from vaccine developers and 0distributors as more than 169 million Americans have received at least one dose of the COVID-19 vaccine.
- These developments overshadowed the bear market in longer-duration bonds and a few high-profile hedge fund blow ups.
- Inflation remains the key to decoding how long this environment of unsustainable policy support can last – as long as inflation remains contained, investors may continue to throw the confetti.
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