In this video I take you through the top 10 charts to watch in 2020. The charts cover the global economic outlook, risks and opportunities across the major asset classes, and a couple of other global macro trends to keep on top of this year.
The main takeaways from the presentation are:
-Expect a rebound in the global economy, led by emerging markets.
-Defensive assets are extremely expensive, making them possibly sources of risk rather than hedges of risk.
-Commodities and inflation expectations are set to do well as the late-cycle extension thesis will provide a supportive macro backdrop.
-Bearish US dollar, but bullish on the prospects for higher FX volatility.
-Stay bullish global equities. Wary of high absolute valuations in the USA (but for now the ERP is still cheap).
Let me know what you think in the YouTube video comments section, I'd love to hear your take and indeed your feedback on both the video, charts, and conclusions.
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