Investment Outlook 2021: Part 4
Under New Management: All change at the White House
With a new administration taking the reins in Washington, and a swath of Executive Orders already signed, global investors will now be waiting to see how quickly the Biden administration lives up to election pledges on fiscal stimulus and the roll out of vaccinations.
In this selection of investment outlook papers, commentators offer a range of potential scenario analysis as to how the post-Covid-19 recovery might develop. Clearly, much is still dependent on the success of mass vaccinations across the globe and several risks remain. These papers highlight both the anticipated and the more obscure pitfalls that investors should be aware of.
Outlook 2021: ''Back'' to a new future (NN IP)
NN IP’s 2021 outlook piece offers three potential scenarios as to how a post-Covid-19 world may pan out. For each of these, they examine the likely risks and map out outcomes.
Global Investment Outlook - New Year 2021 (RBC GAM)
For compliance reasons, this paper is only accessible in certain geographies
RBC GAM’s latest comprehensive global investment outlook, looks out to a post-Covid-19 world and an improving economic outlook, though notable risks remain.
Investment Outlook 2021 (Janus Henderson)
For compliance reasons, this paper is only accessible in certain geographies
Investment professionals from across Janus Henderson come together to offer their insights into the major risks and opportunities that investors should consider in 2021
Annual Best Ideas: The future in focus (PGIM, Jan 2021)
PGIM’s paper highlights the key ideas and opportunities across asset classes that they believe investors should be watching in 2021.
2020 Review and 2021 Risks Outlook (LGIM)
For compliance reasons, this paper is NOT accessible in the United States and Canada
LGIM’s Asset Allocation team revisits some of their projections for 2020, while outlining some of the tail-risks that might occur during 2021.
2021 Outlook: Turning points on the road to recovery (Capital Group)
For compliance reasons, this paper is only accessible in certain geographies
Capital Group’s 2021 outlook paper highlights investment views and themes from across asset classes.
Podcast: The fixed-income handbook for 2021 (Wells Fargo AM)
For compliance reasons, this paper is only accessible in the United States
Wells Fargo AM’s Head of Fixed Income Strategy and Product Specialists, George Bory, discusses what potentially lies ahead in 2021 for fixed income investors. He highlights ways to boost income and generate additional returns.
Global Fixed Income Macroeconomic and Sector Views: Q1 2021 (Franklin Templeton)
For compliance reasons, this paper is only accessible in the EMEA region
This comprehensive piece on fixed income markets from Franklin Templeton takes a deep dive into the prospects for the asset class in 2021.
Economic and Market Outlook for 2021 (Vanguard)
Vanguard‘s 2021 outlook paper weighs up the ongoing battle against the virus and the measures being taken by the pharma industry, central banks, and governments to mitigate its effects.
Outlook on the United States (Lazard AM, Jan 2021)
In this outlook piece from Lazard AM, they argue that the prospects for the US stock and bond markets in 2021 will largely be dependent on the timing and success of a vaccination programme – one of the key election promises of the new Biden administration.
Is a Regime Change Brewing in Factor Land? (FTSE Russell, 2021)
FTSE Russell’s Mark Barnes, Head of Investment Research (Americas) and Marlies van Boven, Head of Investment Research (EMEA), ponder whether the upturn of the value and size factors seen in Q4 could turn into a sustained shift in factor leadership.
2021 Outlook: Market rotations in an uneven recovery (Amundi)
For compliance reasons, this paper is NOT accessible in the United States
Amundi believes that the damage to the global economy caused by the Covid-19 pandemic will last well beyond 2021. They caveat that investors need to be wary as they undertake portfolio construction activities, noting a near doubling in volatility, a marked decline in market liquidity, and increased correlation between risk assets.
Webinar: APAC economic outlook for 2021 (Moody's Analytics)
This webinar discussion focuses upon the economic prospects for the APAC region, identifying the factors behind economic recovery, whilst outing the risks that remain.