Markets, economy, stocks, growth, global, fixed income, international, asset classes
The Federal Reserve announced new programs on March 23, 2020. Global Liquidity Portfolio Manager, Kyongsoo Noh, discusses these new facilities from the Fed.
The COVID-19 outbreak has pushed the global economy into recession and equities likely have further to fall. We are overweight cash and duration and modestly underweight equity and credit. We expect to stay nimble in our relative value positions.
The global COVID-19 outbreak, and the government-mandated lockdowns that ensued, caused risk assets to drop at an unprecedented pace over the first quarter of 2020.
The general public, especially in Asia, is understandably anxious about the latest coronavirus outbreak that originated in Wuhan, China.
Insights and implications from the Multi-Asset Solutions Strategy Summit
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