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From my perspective

It is my pleasure to present our Investment Outlook 2020. The past year has turned out better for most investors than might have been expected, considering the geopolitical uncertainty that prevailed during the period and weakening economic momentum.

Tidjane Thiam CEO Credit Suisse Group AG

Tidjane Thiam

CEO Credit Suisse Group AG

So what is in store for 2020? It is unlikely that all the issues that have accompanied us since early 2018 will be resolved, be it the US-China trade conflict or political uncertainties in Europe. Investors will also continue to have to contend with extremely low (or negative) interest rates in bond markets. These are among the key themes that figure in my discussions with clients and other stakeholders. 

Putting all of these issues into a broader context and differentiating between what is of greater or lesser relevance for businesses and investors alike is the paramount and arduous task of our bank’s economists, financial analysts and strategists. The sum of these efforts is a central element of our holistic House View.

The main results of our analysis and our key views for the economy and markets are presented in the pages that follow. I trust you will find our analysis both interesting and relevant as you plan for the year ahead.

In this vein, I wish you a prosperous – and resilient – 2020.

Tidjane Thiam