Emerging Asian economies including China, Korea and Taiwan should be leaders to start the year, with recoveries in Europe and Japan timed to the distribution of a COVID-19 vaccine. Absolute levels of growth will remain modest, reflecting demographic headwinds that remain a major factor for these economies.
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While continued vaccine progress provides optimism for a 2021 profits recovery, high valuation implies that investors are already pricing in positive future outcomes, and the potential for disappointment remains high. Trade risks are set to recede, though other domestic and foreign policy risks for foreign equities could materialize. Approximately 70 percent of S&P 500 companies offer dividend yields above the U. S. 10-year Treasury note yield as of late-December. E-commerce is gaining in popularity, driven by the internet’s convenience, reliability and contactless nature. We believe online sales usage and growth will remain high even beyond COVID-19. Consumers have come to appreciate online sales and same-day pick-up, drive-up and delivery services. We consider best-in-class operators to be those with an internet presence that also promote in-store traffic and a personal touch.
One of the big questions about the new administration has been what economic action it would take. As NPR’s Emily Feng has reported, Chinese policymakers have pledged to continue policies that support private businesses and consumer demand, but will scale back certain credit-boosting policies in the months ahead. People walk in Wuhan on Jan. 10, the eve of the first anniversary of China confirming its first COVID-19 death. Chinese officials said on Monday that its economy managed to grow 2. 3% in 2020.
As always, we are privileged to have your trust, and we welcome any questions or follow-up you may have with respect to your unique financial situation. We wish you the best in the New Year and thank you for the opportunity to serve you. New data released this week by Australian researchers reveals the impact of the COVID-19 lockdown period on aeromedical retrievals in rural and remote regions. Get the latest news, weather, sports and information from the region’s top local news source.
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Additionally, an exodus of inhabitants out of many major cities appears to be underway. These two shifts are negatively affecting the office and apartment market in the urban core of most large cities. An economic expansion, declining U. S. dollar relative to foreign currencies and increasing inflation expectations are a favorable backdrop for commodities, and prices for agricultural products, industrial metals and energy should move higher. Commodity producers appear to be the primary beneficiaries of these trends among real assets. The benefits of precious metals as safe havens are likely to subside further in 2021. Foreign equities’ valuation, or the price investors are willing to pay for anticipated earnings, is elevated relative to history.
It will include not only short-term loss but should also keep on to help recipients right up until the economy is again on course. This support, also more compared to the means-tested bank checks, will help both buyer confidence and spending. One more piece of the Joe biden proposal is to enhance the December additional lack of employment supplement from $300 to be able to $400 weekly, extending typically the expiration date from Mar to September. This number is almost as large as the amount of the initial stimulus bill of 2020, which was $2 trillion. The recent data is the context for a plan announced last night by the incoming president for a new round of federal stimulus.