By: Wade Austin
2020 will be a year we wish we could forget but never will.
Equity markets worldwide experienced a “melt up” in November.
In October, uncertainties and drama associated with the election, pandemic, and fiscal stimulus negotiations weighed on markets.
Riding a red-hot streak of five consecutive monthly gains, stocks finally cooled in September.
Following July’s strong performance and entering a softer stretch of the calendar, many assumed equity markets would take a breather in August.
Initially propelled by an expectation smashing 4.8M June jobs gained report and sustained by the announcement of several promising phase III clinical trials for Covid-19 vaccines, equity markets continued their remarkably persistent rally in July.
2Q 2020 felt like the longest, slowest three months for many, but in capital markets, everything moved at warp speed.
The “black swan event” for markets was turning off the U.S.
From February 19th to March 23rd, the S&P 500 fell 34% as the “Great Lockdown” wreaked economic havoc and sparked alarming Depression fears.