Global Investment Views - January 2020

Monday 30 December 2019

Research / Market

Global Investment Views - January 2020 - CIO Views

The combination of these trends enabled a traditional 50 bond/50 equity balanced portfolio for European to investors generate 15.5%, the best annual performance in the last two decades. However, 2019 also saw some less exciting records on economic and geopolitical fronts – a high world uncertainty index reading (Brexit, Trump impeachment process and trade war escalation). Debt skyrocketed, CO2 emissions rose and social discontent erupted in many countries. Overall, global growth decelerated, inflation failed to reach Central Banks’ (CB) targets and vulnerabilities continued to build. The big disconnect in market performance and a fragile economic environment is partially the result of re-rating of market valuations and the big shift in CB policies. Various forms of monetary accommodation have eased the financial conditions witnessed at the beginning of 2019.

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