Market Watch Weekly | December 4th, 2020 | How To Turn $10,000 into $21,300,000... (Legally)

Erik Dekker - Dec 05, 2020
What a year… Friday saw a hat-trick of all-time-highs in all three major US benchmarks. The TSX, meanwhile, is positive (finally) on the year...

What a year… Friday saw a hat-trick of all-time-highs in all three major US benchmarks. The TSX, meanwhile, is positive (finally) on the year, but still 2.6% away from a new high-water-mark, and our discretionary mandate is into the double-digits. 2020, for all the ups and downs, will be one to remember.

Posting their fourth weekly gain in five, markets continue to march higher as we learn more about positive developments on the vaccine front. Support was also chalked up to some of the usual suspects including the central bank liquidity tailwind, resilient corporate earnings, an improving macro backdrop, and additional progress on bi-partisan progress on stimulus. These dynamics intertwined with fear-of-missing-out (FOMO), there-is-no-alternative (TINA) and buy-the-dip (BTD) mantras, has helped to overshadow rising Covid-19 case counts.

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