2020 Outlook A Call for Resilience

OpinioPro Selection
By February 3, 2020 17:14

2020 Outlook A Call for Resilience

A letter to investors from Darrell L. Cronk

December 2019

2019 was largely characterized by a tug-of-war between substantial geopolitical drags and offsetting global monetary policy easing. The third slowdown of this expansion took hold at midyear, once again creating concerns about the timing and cause of the next recession. Ironically, all equity asset classes, and even several fixed income asset classes, have delivered double-digit returns, despite these concerns.

These geopolitical drags have weighed heavily on business sentiment, producing a sharp deceleration in global capital spending and manufacturing output. However, this slowdown has remained largely contained as labor market strength and ever-lower borrowing rates have supported consumer spending and service-sector activity.

For now, we remain comfortable that …

OpinioPro Selection
By February 3, 2020 17:14


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February 2020