4 reasons Credit Suisse is optimistic about 2021
Stock markets have likely seen the worst of the pandemic-driven recession, and less protracted bond price falls than many expected point toward a far happier 2021 for investors, says Credit Suisse Australia’s CIO Andrew McAuley.
Large macro themes have dominated this year – international lockdowns to stem the spread of COVID, the Trump-Biden showdown ahead of US Election, and simmering US-China trade tensions.
But McAuley, who heads up Credit Suisse’s local multi-asset team, notes the election will be run and won by mid-November and the US-China trade dispute “seems to be working its way through the system and isn’t having much effect.”
And on the pandemic front, he expects far less aggressive responses to the more muted second-wave of infections many countries are experiencing. The manager’s global pharmacy team is also tipping good news soon from one of the four leading contenders.
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