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Every quarter, our specialists interpret trends in the global economy and financial markets. Read their views on the third quarter of 2020.

Macroeconomic environment

  • In 2020, the global economy will see its deepest recession in the post-war period.
  • The explosion in public debt rules out any monetary tightening, however small.
  • Central banks are destroying the foundations of the market economy, thereby jeopardising the advances in prosperity achieved in recent decades.

Financial markets

  • The scale of the equity market rebound is astonishing given the economic damage.
  • Companies able to deliver sustained growth are the main beneficiaries of a low interest rate environment.
  • The decline in real interest rates will continue to support the gold price.

Due to health risks, this edition of 'Perspectives' will not be available in paper format.

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