By Krishna Memani, Vice Chairman of Investments
To make it simple, I'll state my conclusion upfront. My outlook for 2020, or at least the first half of 2020, is quite sanguine. I believe the performance of risk assets is likely to be quite decent for the following reasons:
- The global economy is reaccelerating, albeit from a low level to a modest level.
- The Federal Reserve (Fed) has moved off the tightening bandwagon.
- Other central banks are maintaining policy support.
- Both the Fed and European Central Bank are expanding their balance sheets.
- A US-China trade deal