Fine Wine Market Report November 2020
01/12/2020“Is there finally light at the end of the COVID tunnel? We entered November under great uncertainty surrounding the US election, facing a wall of unfavourable data and predictions about the coming winter for hospitalisations, and, of course, no-deal Brexit negotiations looking an even money outcome. Suddenly at the end of the month we find ourselves in relatively calm waters, with the outlook more certain and positive than any of us might have expected.
There is little doubt that the COVID-19 vaccine results have been the highlight of the month, spurring a bullish leap in equity markets across a swathe of industry sectors, most notably in energy, travel and hospitality. Cash positions have been confidently reduced with only gold and some areas of the optimistically-priced tech sector showing softness. While the Presidential transition is not yet fully resolved, closure is on the horizon. Virus cases are coming back under control and optimism and hope are at their highest levels in months, despite the outlook for a hard winter ahead.
On the downside, the odds of a no-deal Brexit are still worryingly high, but for fine wine investors positioned in Euros or greenbacks, a no-deal outcome could lead to significant arbitrage opportunities in fine wine.”
Analysis from Justin Knock, our resident Master of Wine and Chief Wine Analyst. Click here to access the full fine wine market report for November 2020.
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