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).
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