Market & Portfolio Update - November 2020
Global markets performed very strongly during November. The first catalyst markets liked was the result of the US election. Although we haven’t seen the ‘blue wave’ result the polls were suggesting, it is looking like the US presidency and Senate will be divided. A divided government means it is less likely there will be significant change to regulations, giving more certainty to companies and investors.
The second major catalyst was the positive news from the phase three trials for Covid-19 vaccines. Banks, energy, and travel stocks all performed strongly as a result. The Australian share market in particular, performed well on this news. The Australian market has a larger allocation to these sectors than other global markets, resulting in it being up almost 10% in local currency terms.
Booster have recently increased the holdings in Australian companies that operate in the sectors that are likely to benefit the most from the global economy reopening and reduced the holdings in more defensive style companies. Although it is still likely it will take some time to get back to pre-Covid normality, investment markets tend to look forward so some are positioning funds in expectation of this.
(This article is a bit tongue in cheek, wink wink nudge nudge, but the core premise holds true).
Did you draw the office bully in your Secret Santa? Wondering what to get your mean old Aunt who only fed you broad bean soup as a child? Or maybe you’re still annoyed at your sister from when she ‘borrowed’ your favourite jacket and then lost it.
Great news, we have the perfect anti-gift; Prezzy Cards.
Move over coal as the naughty gift, at least we can draw with you. You might be surprised what is actually left to draw on from a $30 Prezzy Card though.
2020 certainly has been a year we will all never forget. On behalf of Lifetime, I would like to personally thank all of you for being supportive as we adjusted to our new way of working throughout the lock-down periods.