Global markets q4 outlook: recession or resilience?

GAM
Door oktober 9, 2019 11:32

Global markets q4 outlook: recession or resilience?

Over the final quarter of 2019, the tug of war between economic resilience and recession risk is likely to dominate market outcomes and asset allocation decision making. The asset allocation committee outlines its views below. 

Over the past three months, markets have become prone to greater volatility and frequent reversal. The underlying cause is shifting perceptions about global growth. At mid-year, concerns that weakness in trade and manufacturing would spill over to services, employment and consumption led investors to anticipate significant monetary policy easing. Bond yields plunged and equities slumped as earnings estimates were cut. Then, in early September, markets abruptly reversed as positive growth surprises lifted bond yields and equity markets. Fleetingly, cyclically sensitive sectors and value outperformed more defensive plays

GAM
Door oktober 9, 2019 11:32

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Asset Allocation Consensus September

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