Just as headwinds from trade policy were beginning to dissipate, the outbreak of COVID-19 has pushed the global economy into recession.
We raised the probability of Recession to 55% after virus-induced shocks, oil prices’ collapse and violent market volatility. We are de-risking, adding very high quality duration, while expecting credit markets to cheapen and reserve currencies to do well
We expect another positive year for emerging market debt in 2020, with base case expectations of about 8% returns for emerging market hard currency, and 11% for emerging market local currency.
Pension Pulse Summer 2019
Pension Pulse Spring 2019
Pension Pulse Summer 2018
Article highlighting why now is a good time for investing in infrastructure
This full report is a comprehensive and detailed analysis of our 10-to 15 year asset class forecasts. US version.