australiaen
Outlook 2020: A Tale of Two Scenarios

Outlook 2020: A Tale of Two Scenarios

12-11-2019 | Yearly outlook

This year’s annual outlook is inspired by Charles Dickens’ A Tale of Two Cities. We expect the economic expansion to last a little longer, and the equity bull market to enter the last leg of a near decade-long climb. Based on expected global GDP growth, company earnings, and the relative value of equities compared to other assets, there is definitely a case for a prolonged period of tailwind for investors.

  • Jeroen Blokland
    Jeroen
    Blokland
    Portfolio Manager
  • James Stuttard
    James
    Stuttard
    Head of Global Macro team and Portfolio Manager, Robeco
  • Fabiana Fedeli
    Fabiana
    Fedeli
    Global Head of Fundamental Equities

But what if earnings and GDP growth stall earlier than we expect and the recession does hit in 2020? Should we also brace ourselves for the alternative outcome – a scenario in which markets are sent spiraling during the course of next year?

This article is part of our investment outlook 2020: ‘A Tale of Two Scenarios’.
This article is part of our investment outlook 2020: ‘A Tale of Two Scenarios’.
Read more

Leave your details and download our full Outlook 2020

Disclaimer:

I agree to the Robeco Disclaimer and the collection and use of my personal data by Robeco, for the purposes for which such data is collected and used as set out in the Privacy Policy, including for the purpose of direct marketing of Robeco products or services. Your data will be treated with utmost care and will not be passed on to third parties.

Subjects related to this article are:

Related articles

See all
Logo

Disclaimer

BY CLICKING ON “I AGREE”, I DECLARE I AM A WHOLESALE CLIENT AS DEFINED IN THE CORPORATIONS ACT 2001.

What is a Wholesale Client?
A person or entity is a “wholesale client” if they satisfy the requirements of section 761G of the Corporations Act.
This commonly includes a person or entity:

  • who holds an Australian Financial Services License
  • who has or controls at least $10 million (and may include funds held by an associate or under a trust that the person manages)
  • that is a body regulated by APRA other than a trustee of:
    (i) a superannuation fund;
    (ii) an approved deposit fund;
    (iii) a pooled superannuation trust; or
    (iv) a public sector superannuation scheme.
    within the meaning of the Superannuation Industry (Supervision) Act 1993
  • that is a body registered under the Financial Corporations Act 1974.
  • that is a trustee of:
    (i) a superannuation fund; or
    (ii) an approved deposit fund; or
    (iii) a pooled superannuation trust; or
    (iv) a public sector superannuation scheme
    within the meaning of the Superannuation Industry (Supervision) Act 1993 and the fund, trust or scheme has net assets of at least $10 million.
  • that is a listed entity or a related body corporate of a listed entity
  • that is an exempt public authority
  • that is a body corporate, or an unincorporated body, that:
    (i) carries on a business of investment in financial products, interests in land or other investments; and
    (ii) for those purposes, invests funds received (directly or indirectly) following an offer or invitation to the public, within the meaning of section 82 of the Corporations Act 2001, the terms of which provided for the funds subscribed to be invested for those purposes.
  • that is a foreign entity which, if established or incorporated in Australia, would be covered by one of the preceding paragraphs.
I Disagree