In our latest CIO Insights quarterly publication we look at the prospects for global economic recovery amidst the continuing coronavirus pandemic.
Inside the report "A long hill to climb", we look at:
- The economic outlook for 2020 and 2021 as global economies try to get back on their feet
- Asset class outlooks, 12-month point forecasts and the risks ahead
- Our 2020 investment themes – staying relevant in a coronavirus world
- Why SAA and ESG are key components of our investment approach
In summary, we argue that market optimism depends on confidence that central bank and government policy support will continue and a belief that further progress will be made on controlling the virus. But economic recovery will be hesitant with some major policy challenges ahead.
Highly accommodative monetary policy will continue to define the investment environment and investors should be realistic about return expectations. Higher debt levels are unavoidable and we need to find innovative methods to ameliorate continuing social and political stresses. In short, this will be a long hill to climb.
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