As we head into a new year, with the benefit of hindsight, it is clear that the market downturn of 2020 was short-lived and entirely related to the COVID-19 outbreak. The powerful upswing in equity prices this year would appear to be a continuation of the bull market that we’ve witnessed over the past decade. This continuation of pre-pandemic trends means investors should be mindful of the risks inherent in the latter days of a long bull market. In particular, the ongoing war between inflation and deflation, which could define markets in the years ahead.

Looking ahead, the risks are clearly defined: Global economic growth is slowing, especially in China. Central bankers are planning a gradual reduction in monetary stimulus measures. And valuations are elevated across the board, from stocks to bonds to real estate.

Join Capital Group's Outlook 2022 webinar on Wednesday, December 15, where an expert panel will consider how, against this challenging backdrop, many interesting new investment opportunities may be uncovered in an environment ideally suited to selective investing grounded in bottom-up, fundamental research.

Conference website