NVQ - 2021 Equities Outlook: Value's Time To Shine?

• The view of our investment strategy team is that global markets are moving to the old normal.
• The medium-term outlook for economies and earnings is positive, and the global economy is in the early post-recession recovery phase.
• The expected outperformance of non-U.S. equities over U.S. equities is consistent with value stocks outperforming growth stocks.

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