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Farm to Fork December 2020: Equities achieved all-time highs to end 2020, driven by optimism that the pandemic will end soon and that global economic growth is building. Ultra-low interest rates, continued fiscal and monetary stimulus, and pent-up consumer and business demand underpinned valuations. Expectations were tempered by concerns over the pace of vaccinations, ongoing U.S. political challenges, and high global borrowing levels.