InvestNow News – 13th Dec 19 – Devon Funds Monthly Investor Report November 2019
Signposts to watch out for in 2020
Equity investors have enjoyed an incredible ride over the past decade with the US S&P500 index rallying over 300% since early 2009, and New Zea- land’s NZX50 up by a similar amount.
This performance has been supported by a range of sources including record low interest rates, massive liquidity strategies from the major central banks and government fiscal initiatives.
As we look into 2020, with many stock markets trading at, or near to, all- time-highs the question many are asking is where we go from here and what are the most significant signposts to look out for.
In a global context the two economies which continue to have the most in- fluence on world growth outcomes are the US and China. Over the past year both these countries have been challenged by deteriorating outcomes. A major catalyst for this has been the Sino-US trade tensions which have created uncertainty across the global supply chain and weighed on corporate profits …