2020 Investment Outlook: Best of the Best

20/20 Savvy Vision: Our 'Top 20' 2020 Investment Outlook Papers

Looser global monetary policy, the ratification of Phase 1 of the US-China trade deal, and lessening recession risk all point towards a rosier outcome for global GDP growth in 2020, yet the political environment remains somewhat unstable. As Iranian tensions flare, the world is left to wonder how best to quell the unexpected physical and ideological wildfires that might arise, as well as their accompanying spikes of volatility. Meanwhile, investors are left attempting to properly account for these tail risk events within their projections for global asset class returns. 

In our 'Top 20' investment outlook papers listed below, the world's leading asset managers provide their vision on how the year 2020 is likely to unfold. 
 

Investment Outlook 2020: Hotel California - No Leaving QE (BNP Paribas AM)

Are global central bankers trapped in a 'Hotel California'-like QE regime that they can never escape from? BNP Paribas Asset Management presents their outlook for monetary policy, the global macroeconomic environment, and other investment themes in 2020.

Welcome to 2020: This is Tail Risk We’ve Seen Before (Intech)

Intech strategists examine the current relative behavior of stocks across several dimensions and place it within the appropriate historical context. They attempt to offer an integrated view of equity-market opportunities and risks upon which investors can act.

2020 Investment Outlook: Be agile to cope with diverging scenarios (Amundi AM)

For compliance reasons, this paper is NOT accessible in the United States

Looser monetary policy across the globe, combined with the likelihood of a US-China trade deal will likely serve to lessen recession risk in 2020, but investors should stay agile and mindful of divergent possibilities for financial markets.

Top Risks 2020: A tipping point (Eurasia Group)

Ian Bremmer's Eurasia Group presents the top economic, geopolitical, and market-related risks for 2020, including the U.S. election, technological and trade-related strifes between the U.S. and China, and climate change.

House View 2020 Outlook (Aviva Investors)

For compliance reasons, this paper is only accessible in certain geographies

Aviva's 'House View' 2020 Outlook predicts improving global GDP growth, reduced recession risk, further ratifications of trade agreements, and easier monetary policy creating a positive backdrop for global equities this year.

JP Morgan Quarterly Guide to the Markets - Q1 2020

The latest J.P. Morgan quarterly 'Guide to the Markets' is a comprehensive chartbook of economic data and market-related trends. A unique version exists for 6 different global regions.

Global Investment Committee: 2020 outlook (Nuveen)

Nuveen's 2020 outlook projects a clearer path for growth than in 2019, and is founded upon easier monetary policy regimes, fading recession risks, and a reduction in trade-related concerns.

New Year. New Decade. Outlook 2020 (AGF Investments)

For compliance reasons, this paper is only accessible in the United States and Canada

AGF's 2020 Outlook document, presented in interactive or downloadable pdf format, discusses the upcoming U.S. election, their outlook for major asset classes, and other predictions for the coming decade.

2020 Investment Outlook (Wellington Management)

How will geopolitical disruption, growth vs value, volatility, and sustainable investing impact markets in 2020? Wellington Management explores these issues and others in their global investment outlook.

2020 Economic Outlook: A Battle of Three Cycles (PineBridge)

The three cycles that PineBridge's Chief Economist, Markus Schomer, outlines are related to the macroeconomic environment, monetary policy, and global politics. The confluence of these three cycles could have broad implications for markets in 2020.

2020 Outlook: Expecting the Unexpected (UBS AM)

UBS Asset Management discusses the potential opportunities that could arise from unexpected events occurring in 2020, as well as an overview of their multi-asset outlook in this 20-page report.

Outlook 2020: A Tale of Two Scenarios (Robeco)

Will 2020 be a year of further expansion for global economies, or will GDP growth begin to plateau and a recession emerge? Robeco's 2020 outlook leans towards the former outcome.

2020 Outlook: Coping with a changing market landscape (Franklin Templeton)

For compliance reasons, this paper is only accessible in certain geographies

Franklin Templeton's senior investment leaders suggest a cautiously optimistic outlook for 2020, stressing the importance of selectivity in the face of continued uncertainty and a changes in financial markets.

Economic and market outlook for 2020: The new age of uncertainty (Vanguard)

Continued uncertainty is likely to lower global potential growth rates, as per Vanguard's market strategists. This environment also creates a fragile backdrop for markets.

CIO View: Our 12-Month Economic & Market Outlook (DWS AM)

For compliance reasons, this paper is only accessible in the United Kingdom

DWS Asset Management's economic and market outlook for 2020 covers their macroeconomic views as well as the outlook for major asset classes. It also contains a section on a unique ESG issue: water shortages.

Byron Wien & Joe Zidle: The Ten Surprises of 2020 (Blackstone blog)

Always an entertaining read, Blackstone's 'Ten Surprises' of 2019 are reviewed and this year's list of unexpected events are revealed.

Compass 2020 Outlook: Quarterly market insights (Barclays Wealth Management)

This Barclays Compass 2020 Outlook is structured around 5 central themes, covering everything from the risk of political surprises to impact investing in the coming year.

Reconfiguring 60/40: Investing in a World of Ultra-Low Rates (JP Morgan AM)

In this brief paper, JP Morgan AM strategists provide a birds-eye view of the firm's 2020 Long-Term Capital Market Assumptions, in addition to other important structural themes.

Year-End Investment Outlook: The Age of Uncertainty (HSBC GAM)

Through the eyes of their Chief Strategist and Global CIOs, HSBC Global Asset Management presents their multi-asset outlook for 2020.

The 2020-2024 EM Fixed Income Outlook (Ashmore)

Ashmore's outlook for EM fixed income in 2020 and beyond predicts continued outperformance versus developed fixed income markets.