Risk assets have seen a broadly positive start to 2021, and while we acknowledge
that it has not been a simple and straight forward ride higher for markets, we do
note that the S&P500’s ‘VIX volatility index’ at the beginning of April has traded
through its lowest price since before the initial pandemic-led equity sell-off. We
believe market participants are fully looking through the pandemic at this point and
towards a brighter future.
The middle of March marked the one-year anniversary of the transition to the world
with Covid-19, a theme that has dominated our investment updates and indeed
markets as a whole. This time last year, having just entered our first lockdown in
Ireland, very few of us could have predicted the extent of the social, emotional, and
economic impact the virus would bring. Fast forward to April 2021, we are in a world
with significantly less uncertainty on the virus front, and have essentially witnessed a
whole market cycle within a very short and surreal period of time over the past 12+
months. Importantly, there is a definite end in sight, and we are undoubtedly finally
starting to see evidence that the economic needle is moving in the right direction.
To read the full report download here or click through the document viewer below:
Seaspray Q1 Report 2021
If you would like to discuss any of the above content or have a broader investment conversation please contact one of our trusted advisors.
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