Forecasts

 

We expect only sluggish global growth in 2020 of 2.5%, almost unchanged from 2019. Against the backdrop of limited earnings growth and flat to higher bond yields, returns in key equity markets are likely to be in the single-digit range in 2020, while returns on most core government bonds are likely to be negative.

Forecasts for growth and inflation
Forecasts for growth and inflation
We believe that the global economy and markets will continue to show considerable resilience in the face of these challenges.
Financial market performance / forecasts
Financial market performance / forecasts