Dear friends of Arcus Capital Partners,
We hope this letter finds you in good health and that you had a wonderful holiday season. The final quarter of 2020 capped off what turned out to be a very trying year. Although many asset classes posted positive returns, investors were forced to exhibit steadfast patience and endure bouts of extreme volatility. Fortunately, the worst appears to have passed, and encouraging reports such as the recently approved COVID-19 vaccine could help to restore some form of normalcy in 2021. Additionally, the global economy is healing and should continue recovering over the coming year. During the quarter, global stocks pushed higher, and several domestic indexes made new all-time highs. Interest rates remained historically low but started rising into the year-end. Lastly, commodities rallied on US dollar weakness and improving economic data. Overall, the final three months of 2020 kept investors on their toes and set the stage for an interesting year ahead.