MARKET GPS
Investment Outlook 2020
What are the most pressing issues facing investors globally and how will they evolve in the year ahead? Our asset class heads provide their views on the investment themes to watch in 2020.
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A “monetarist” perspective on current equity markets
The baseline scenario in our previous quarterly commentary was that global economic momentum, having bottomed in Q3 2019, would remain weak in early 2020 before strengthening towards mid-year.
US inventory cycle yet to bottom
The modest revival in the global manufacturing PMI in late 2019, on the view here, partly reflects a bottoming out of the global stockbuilding (inventory) cycle.
Chinese credit conditions still tight
A recent pick-up in Chinese PMIs has boosted recovery hopes but the view here, based on monetary trends, is that such optimism is premature.
Ruimte om te groeien? De vooruitzichten voor Amerikaanse aandelen op het einde van de cyclus
Amerikaanse multi-activabeheerders Marc Pinto en Jeremiah Buckley bespreken de opportuniteiten op de aandelenmarkt aan het einde van de huidige economische cyclus.
Diversified Alternatives 2020 outlook: Out of the Goldilocks zone?
Will 2019 be considered the last hurrah? Could 2020 mark the beginning of a new era of volatility for global markets? David Elms, Head of Diversified Alternatives, gives some insight into where he sees the most attractive areas of opportunity, and what this might mean for investors.
Is market optimism premature?
The long-standing view here has been that global economic momentum would bottom around Q3 2019 but remain weak into H1 2020.
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Amerikaanse aandelen t.o.v. obligaties: de twee belangrijkste trends van 2020
Disruptie en consumentenuitgaven: zijn dit de twee belangrijkste trends die we in 2020 in de gaten moeten houden?
Chinese money trends suggesting PMI relapse
Hopes of a rebound in Chinese industrial output growth have been boosted by a pick-up in the Markit manufacturing PMI to the top of its range in recent years.
UK economy still stagnant / recessionary
UK monthly GDP / gross value added (GVA) for October will be released on 10 December, two days before the election. GDP is currently estimated to have fallen by 0.16% in August and 0.07% in September, with the September level 0.10% below the Q3 average.
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Global recovery not yet assured
Incoming news appears consistent with the assessment here that global industrial momentum bottomed in Q3 but will remain weak through Q1, at least.
What is ESG and why do we care?
The Corporate Credit Team at Janus Henderson Investors explain why integrating environmental, social and governance (ESG) factors into their decision making is integral to their investment approach.
Houd uw cash aan het werk
Nu de rendementen op kortlopende beleggingen in Europa zeer laag of negatief zijn, leggen de beheerders van het Janus Henderson Absolute Return Income Fund (EUR) uit dat een verschuiving binnen het risicospectrum naar een actief beheerde vastrentende strategie met lage volatiliteit een mogelijke oplossing kan zijn voor beleggers die hun defensieve activa op de middellange termijn harder willen laten werken.