Chief Investment Officer Bernard Swords discusses the solid finish to 2020 with a Brexit trade agreement and a fiscal stimulus deal in the US, supporting our optimistic outlook for growth and markets in the year ahead. While COVID will remain a source of volatility, these milestones give the markets the means to look through what is likely to a be a choppy start for the global economy in 2021 with lockdowns being broader and probably longer lasting than was thought several weeks ago.

• Firstly, Bernard highlights that we had agreement to a fiscal stimulus package in the US. Some details are still being argued over, but it is an important measure to get passed.
• Secondly, there is a Brexit deal in place. Here also there are details to be worked out but we have avoided a messy situation and that is a positive.
• Taken together, these are supportive of growth and markets in the year ahead amidst short term volatility with this latest COVID surge which will undoubtedly cause some market turbulence in the early part of 2021.