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REVIEW OF THE PAST QUARTER:

The quarter started with markets caught between optimism about potential vaccines and pessimism about the second wave of coronavirus infections. News of successful vaccine trials in early November saw investors rush to risk assets and many equity markets saw their best ever monthly returns. US markets were reassured by the prospect of political stalemate in Washington, as Joe Biden’s victory in the presidential election was balanced by the Republicans likely retaining control of the Senate….

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