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2021 Global Market Outlook - Q2 Update: The second coming
Vaccines and U.S. stimulus have the global economy on track for a strong rebound in the second half of 2021. We expect the reopening trade to favour equities over bonds, the value factor over the growth factor and non-U.S. over U.S. stocks.
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Compliance with U.S. Executive Order 13959
On November 11, 2020, the United States government issued Executive Order 13959, which prohibits U.S. persons from engaging in any transaction in publicly-traded securities in Communist Chinese military companies (as well as certain related securities) and which first became effective on January 11, 2021. We have taken steps as required to comply with the Order to the best of our knowledge and belief. We continue to monitor this matter to assess any potential impact or actions needed, as facts and circumstances continue to evolve.