Less than a week after the US election on 3 November, the S&P 500 hit a new all-time. Equities rallied globally as well, with the Nikkei 225 breaking out to the highest level since 1991. At the same time, the sectors that rallied most during the initial rebound from the COVID-19 shock seem stuck in a sideways range since August.
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Note: The next edition of the LGT Beacon is scheduled for December 2020.