Our CIO Insights outlook update examines the longer-term economic implications of the coronavirus and revisits the six investment themes we identified at the beginning of 2020. 

 

Inside the report “Through difficult waters", we explore:

  • The economic outlook for 2020 and 2021 as the world turns the COVID-19 tide
  • Asset class outlooks and 12-month point forecasts
  • Why our existing six 2020 investment themes are still highly relevant
  • Four key sets of tensions in the new post-pandemic global landscape
  • SAA and our revised long-term asset class return forecasts

 

In summary, we argue that the initial recovery from the pandemic will be only partial, with global output not returning to pre-crisis levels before 2022. Nonetheless, a number of factors will help drive equity markets higher and we see investment opportunities elsewhere too.

 

In the longer-term, we see problems around the various dimensions of political control, around a possible addiction to policy intervention, around the impact of higher debt levels and government intervention on growth, and on the markets’ desire for handholding rather than “animal spirits”.

 

To download a printer-friendly PDF of the full report, please click here.

 

To view a mobile-optimised version of the full report, please click here.

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