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Media Relations


2020 Economic and Financial Market Outlook – Cyclical recovery to continue in 2020

  • Lack of skilled resources led to labour hoarding during the manufacturing recession and prevented spill-over effects to broader economy.
  • Overweight emerging markets in a global portfolio.
  • Global monetary developments to strengthen cyclical forces.
  • ECB and Fed strategy reviews are likely to strengthen inflation expectations.
  • ECB asset purchases are unlikely to favour “green-assets”, but climate change considerations should be addressed in economic models and financial stability regulation.
  • More expansionary fiscal policies to gain support in the low yield environment.
  • Equities with moderate but positive returns in 2020 will remain best-performing asset class.