The estimated ARC Index results for November are now available.

Paradise Lost


At the turn of the decade, just three short months ago, investors could look back over one of the longest equity bull markets on record. Supported by low inflation and low interest rates, company profits were at record levels and more people were employed in developed economies than ever before. While economic growth was perhaps slower than some would have liked to see, and rising income and wealth inequality was creating political upheaval in Europe and North America, the question was how to distribute economic prosperity not whether economic prosperity would exist to be distributed. Then along came the virus, COVID-19, starting with a single case but then spreading across the globe at great speed, and with its arrival paradise was lost.

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