2020 Market Outlook
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Will the global economy bounce back to life in 2020?
Written by Hussein Sayed, Chief Market Strategist at FXTM
2019 has certainly been a year to remember in the financial markets. Geopolitical issues have been at the centre of news headlines, dominated by the US-China trade dispute, threats of a hard Brexit and demonstrations across many countries. Fears of a global recession escalated when the US Treasury yield curve inverted in August for the first time since mid-2007. The combination of these factors weighed heavily on business sentiment and economic growth.
That said, global equity markets still had a phenomenal year with the MSCI World Index, which tracks companies in 49 countries, hitting a record high and rising 25% in 2019. Thanks to monetary and fiscal policymakers who have intervened to restore confidence, 2019 has seen the fastest pace of central bank easing since the financial crisis in 2008. Moreover, the agreement of a “phase one” trade deal by the US and China and more clarity on Brexit have encouraged risk-taking into year-end.
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