Outlook 2021:
REpair and Despair

By Generali Investments’ Macro & Market Research team 

Highlights:

2021 will see a ‘repair’ of the deep Covid-19 damages, with the economy set to rebound strongly as society normalises into summer. But there is much to despair about.

The revised Central banks’ strategy creates a new investment paradigm: lower rates volatility, stretched cross-asset valuations, more frequent corrections and lower diversification benefits. More than ever, hedging strategies matters.

Find out more about these and other topics of the moment in the full Outlook Report 2021 by our expert Macro & Market Research team and the dedicated video with Vincent Chaigneau, Head of Research at Generali Investments!

Download the full Outlook 2021 and watch the video below:

OUTLOOK 2021 - REPAIR AND DESPAIR
 

RELATED INSIGHTS

COVID-19 FACTS & FIGURES
US President-elect Joe Biden has unveiled a $1.9 trillion stimulus package proposal. Following the recent increase in cases, China has imposed new restrictions and lockdowns in the Hebei province. Canada has implemented new restrictions and a provincewide curfew in Quebec that will last until February 8. German Chancellor Angela Merkel warned that the recent rise in Covid-19 cases could force the country to prolong the nationwide lockdown until April.
EQUITIES: STAY POSITIVE WITH A VALUE-CYCLICAL TILT
Following a monster rally in stocks last autumn, multiples are well above historical averages, but equity investors can count on lingering low yields, tighter credit spreads and increasing central banks’ balance sheets which in turn maintain low the cost of equity and the discount rate of future cash flows.
Video Outlook 2021: Repair and Despair
Watch the Outlook video with Vincent Chaigneau, Head of Research at Generali Investments