New Paradigms, New Opportunities

After an extraordinary year for markets in 2019, the idea of positive, and sometimes doubledigit, returns for risk assets in 2020 looked highly improbable. And yet this is what happened, even in a year that suffered a severe economic shock and two epidemic waves. And hopes that a Covid vaccine would put an end to the sanitary crisis only targeted the second half of 2021. Despite today’s market vertigo, we expect risk assets to go on rising at least at the beginning of 2021.