Dear friends of Arcus Capital Partners,
We hope this letter finds you well and that you are having a great start to the year. The first quarter saw a continuation of the positive momentum experienced at the end of 2020. Rapid deployment of the covid vaccine has allowed many areas of the global economy to reopen and start to unleash a wave of pent-up demand. In turn, a surge in consumer spending, optimism surrounding virus containment, and continued fiscal and monetary support should lead to exceptional global growth. This positive backdrop helped push global stocks higher during the quarter, and several domestic indexes made new all-time highs. It also provided the catalyst needed to unanchor interest rates from historically low levels. Finally, commodities rallied and were led higher by cyclical areas tied to growth. Overall, our outlook for the remainder of 2021 is constructive, and we believe the tailwinds needed for additional market upside are in place.