Posted on October 25, 2021
The third quarter of 2021 was another profitable quarter for U.S. equity markets overall. Interestingly, markets largely ignored a nationwide resurgence in COVID-19 cases, which was felt rather acutely here in Florida as hospital systems were once again put under tremendous strains. However, the overall sense of disregard does make some sense. With a large swath of the population now vaccinated, consumers (and by extension investors) seemed willing to resume life as normal and avoid the sorts of lockdowns we experienced last year. The lockdowns were deemed medically necessary, but they nevertheless zapped economic growth and consumer confidence. While the Delta variant of COVID-19 undoubtedly tested our collective resolve, it is heartening to see infections beginning to subside in areas hardest hit just a few months ago and providing some hope for other geographies that have yet to be affected.
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