Chaos in Washington, another lockdown in London, resurgence of Covid-19 in Europe and elsewhere, a new administration in the United States rolling in and a patchy roll-out of vaccines around the world. Never in recent history have so many geopolitical events weighed so heavily on financial markets at the start of a new year.
No surprises that volatility has been the main discernible state of trading so far, and could remain a feature of financial markets for much of this year. Wall Street indices have reached new record highs, though in stilted fashion.
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