When will the vaccines allow for a sustained economic recovery?
Successful vaccine rollout should drive an economic rebound as pent-up spending is unleashed. We assess the timings and market implications.
The main driver of asset returns likely transitions from liquidity to growth in 2021. We maintain a pro-risk tilt, prefer cyclical equities, are neutral on U.S. large caps and in credit favor EM debt. We move duration from underweight to neutral.
Discover our insights into global equity markets, including investors' views on the greatest risks and opportunities in the face of the ongoing pandemic.