2019 Q4 Global Markets Review & Outlook

Inside, you will find a summary of market activity and our market outlook.

  • Expect the Bull Market to Continue: We expect global markets will continue climbing in 2020, likely at a slower pace with more volatility than 2019.
  • Strength in Services is Underappreciated: In both Developed and Emerging Markets, a strong services sector more than offsets weakness in global manufacturing that should prove temporary.
  • Sentiment is Improving but Still not Euphoric: As big fears from 2019 haven’t materialized, strong returns have slightly closed the gap between sentiment and reality but equity markets are still far from euphoric.