Highlights

  • The global economy looks to be gaining traction and recession fears seem largely behind us. Accommodative monetary policy is supporting global growth while the worldwide manufacturing-driven downturn runs its course.
  • The global search for yield continues to drive credit spreads lower. The team expects the operating environment for most corporations to improve at the margin over the course of 2020 and anticipates mid-single-digit profit growth in many regions of the world.
  • Inflation pressure in the US remains nonthreatening and the global growth outlook does not suggest boom times are ahead. Global central banks are likely to stay on the sidelines or ease policy in 2020.

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