It's been a year like no other. A global pandemic. Economic downturn. A global race for a vaccine. A nationwide database to trace outbreaks. 2020 is finally in the home stretch, although there is no magical fast forward button to hit on New Year's Eve to get us to 100% normalcy – but 2021 is looking hopeful.
The year that wasn’t
A routine task for financial journalists at this time of year is to write a summary of the year in markets and to survey economists on their expectations for the coming year. But the truth is the market already knows all of that. The headlines, and the views of all the economists and analysts and journalists, are already reflected in today’s prices. They can make educated guesses about the outlook, but they’re still guesses.
