By Scott DiMaggio, Eric Winograd
Transcript:
Scott DiMaggio: Forty-nine central banks reduced rates last year. I think it's very difficult for us to forecast forty-nine central banks reducing rates again in 2020.
However, the monetary stimulus should still be there. The Fed will keep things on hold, potentially reduce rates. The PBOC [People's Bank of China] in China has acknowledged that they will reduce rates or at least stimulate further. The ECB [European Central Bank] is in the process of buying bonds. So, you're right. We still have a monetary tailwind that should help, but