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  Alternatives Update 4th Quarter 2020
Posted Under: Alternatives
In the fourth quarter of 2020 Wall Street cheered but Main Street seethed; it was truly a study in extremes. In our opinion, the highs were soaring assets prices, renewed cryptocurrency zeal, and emergency approval by the FDA of two COVID-19 vaccines. The lows were tremendous rancor surrounding the Presidential election, swaths of the economy remaining severely hobbled by the pandemic and rising COVID-19 deaths as a second wave gripped not only the United States but many countries across the globe.  

Congress wrestled over the next round of pandemic stimulus with some members of the Republican party re-embracing fiscal discipline once it became clear that Joe Biden would be the next President.  Meanwhile some members of the Democratic party seemed to move even further into monetary fantasyland with discussions of total student loan forgiveness, multi-trillion-dollar infrastructure and global warming initiatives, as well as supersizing more rounds of direct-to-consumer stimulus checks.  The Federal Reserve (the "FED") made nary a mention of any potential bubbles and did nothing to dissuade the notion that they were ready, willing and able to keep the printing presses rolling as well as find new and inventive ways to use those printing presses.

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These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
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Closed-end Fund Review - Fourth Quarter 2020
Asset Flows Monitor January 2021 Edition
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Asset Flows Monitor November 2020 Edition
Alternatives Update 3rd Quarter 2020
Closed-end Fund Review - Third Quarter 2020
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