“In the last several quarters, I have written about the valuation of risky assets and the apparent speculative behavior of investors. I have little to add on that front, as the liquidity-driven market seems to have limited interest in responding to metrics that have had historical meaning. The one item of note on this front, as we enter the second quarter of 2021, is the newfound optimism of analysts regarding future corporate earnings…”

To read the full version of CapAcuity’s Chief Investment Officer’s quarterly market perspective for 1Q21, click here.