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Outlook 2021: Tackling the trilemma

Outlook 2021: Tackling the trilemma

19-11-2020 | Yearly outlook

Finding the right balance between three things – public health, normal economic functioning, and personal freedoms – will be the main challenge for policymakers in 2021. As these problems surfaced with the Covid-19 outbreak, it can be expected that a vaccine would solve most of the problems.

  • Peter van der Welle
    Peter
    van der Welle
    Strategist Global Macro team
  • Ernesto Sanichar
    Ernesto
    Sanichar
    Senior Portfolio Manager

In general, we believe 2021 will be a good year for risky assets, with equities realizing above average returns in our base case. However, in a scenario in which a working Covid-19 vaccine is not readily available to a large part of the global population in 2021, all bets are off and all risky assets will realize negative returns.

This article is one of the special topics in our 2021 Outlook ‘Tackling the trilemma’
This article is one of the special topics in our 2021 Outlook ‘Tackling the trilemma’
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