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But it is not plain sailing yet, and markets still remain extremely volatile – oscillating between ‘value’ and ‘growth’ on an almost daily basis. The underlying trend remains biased towards cyclical beneficiaries such as travel and hospitality and away from the COVID-19 winners and high multiple growth stocks, such as healthcare providers and e-commerce platforms, that have come under pressure from rising bond yields. But there is no doubt that the outlook for the Australian equity market for the second half of 2021 is positive. Notwithstanding the current uncertainty in NSW regarding an increase in COVID-19 cases, and subsequent lockdown and stay at home orders. With vaccine supplies due to come through in large quantities as the year progresses, serious outbreaks with the resulting threat that hospitals will be overrun will become less common, as will the need for the lock downs. ....
'Unbridled faith': ASX shuns COVID gloom to cap off record year theage.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theage.com.au Daily Mail and Mail on Sunday newspapers.