2021 Q1 Review and Outlook: “I believe that markets will fluctuate.”

The U.S. stock market continued to climb out of and above the hole it dug in 2020, with the S&P 500 SPDR ETF (SPY) gaining 6.4% in the 1st quarter. The U.S. bond market (as measured by the US Aggregate Bond ETF – AGG) declined 3.4%, and a 60% stock/40% bond portfolio gained 2.5%. For…