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CIO VIEW – Outlook 2021 | Surprisingly optimistic

As the year draws to a close, 2020’s big risks started to look less bad, allowing investors to meet 2021 with optimism. We believe low interest rates will remain key.

Dec 10, 2020 CIO View Quarterly

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Dec 08, 2020 Alternatives

A Washington punchline, no more?

For spending on U.S. infrastructure, the 2020 elections could mark a fairly decisive turning point.

Dec 07, 2020 ESG

The other sort of liquidity

Water has become an increasingly important factor for performance across sectors, sub-sectors and companies.

Looking forward to a boring year

After a rollercoaster 2020, chances for a more "normal" 2021 are good. Economic recovery and central-bank support can serve as a safety net.

The case for credit remains strong

A lot has changed, but readers familiar with our previous annual outlook might experience a strange sense of déjà vu.

2021 looks pretty good for equities

Earnings growth and "low-for-even-longer" interest rates imply a lower risk premium and higher valuations for equities.

Nov 24, 2020 Macro

The beginning of the pandemic’s end?

We are increasingly confident in our constructive base case for the world economy in 2021 and beyond, but plenty of question marks remain.

Our forecasts

All forecasts at a glance

Letter to Investors

Surprisingly optimistic for 2021

As the year draws to a close, 2020’s big risks start to look less bad, allowing investors to meet 2021 with optimism. We believe low interest rates will remain key.

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