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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
    Head of Multi Asset
  • Jamie Stuttard
    Jamie
    Stuttard
    Head Global Macro Fixed Income Team
  • 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’.
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