Cardinal Quarterly – April 2021

MARKET OUTLOOK – Markets are off to a good start in 2021. Although most developed market indices have already achieved high single-digit returns in the first quarter, we believe there is still room to run higher in 2021. In fact, we cannot recall a year when so many factors were aligned for explosive GDP growth. Stimulus spending has remained at record highs, interest rates are near record lows, and consumers sitting on record savings are full of pent-up demand.

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