July 31, 2020

GLOBAL VIEW – ENJOY SUMMER WHILE IT LASTS

Share on facebook
Share on twitter
Share on linkedin
Share on email

In Short

As lockdowns have been lifted and global activity rebounded from the Q2 nadir, hopes of a strong recovery have helped risk assets advance further over July.
GLOBAL VIEW – ENJOY SUMMER WHILE IT LASTS
Share on facebook
Share on twitter
Share on linkedin
Share on email

Highlights:

  • The policy-led rally has flattened out but we expect risk sentiment to be resilient over summer. Investor positioning, the economic bounce, dollar weakness and ongoing policy support still dominate for now.
  • But clouds will be mounting this autumn. Already the US recovery is floundering, and hopes of a Vshape will die after summer. Covid will prove more threatening, and political risk will be rising.
  • Our allocation recommendation retains a risk-on bias for now, but a cautious one, focused on IG Credit. The equity OW is minimal and defensive. We stay bearish USD and warn against duration shorts.

Download the full publication below

GLOBAL VIEW – ENJOY SUMMER WHILE IT LASTS

Also interesting

Traffic-highway-Business-district-Jakarta-Emerging
00:11:38
April 19, 2021
Fixed Income

The Spotlight ǀ Equity-like returns with bond-like volatility investing in 75+ emerging economies

China-flag-with-indicators-and-chart
April 16, 2021
Market Commentary

China’s Q1 GDP growth: Strong year-on-year growth amid weak momentum

size 3
April 15, 2021
Market Commentary

COVID-19 UPDATE Facts & Figures