Funds suggest cutting stocks, expect U-shaped global economic recovery

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 45 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 92%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

Funds suggest cutting stocks, expect U-shaped global economic recovery GlobeInvestor

This translation has been automatically generated and has not been verified for accuracy.Global funds recommended an increase in bond holdings to the highest level in seven years, at the expense of stocks, and said the recovery in the coronavirus-hit world economy will be U-shaped, a Reuters poll showed.

While the yield on benchmark U.S. 10-year Treasuries has held around 0.6%, the poll suggested an increase to bond holdings to their highest since the poll series started in early 2013, to 43.3% from 43.1% last month. Responding to an additional question, 60% of fund managers, or 12 of 20, said the global economic recovery would be U-shaped. Four respondents said it would be more like a tick mark and the remaining expected a W- or L- shape.

“At the moment it looks like the virus and associated mobility restrictions are going to remain for a while. Governments and citizens are wary of renewed outbreak and are likely to only partially reopen economies in the near term,” said Benjamin Suess, director at UBS Asset Management. On Wednesday, the Fed said the ongoing pandemic would “weigh heavily” on the near-term outlook and posed “considerable risks” for the medium term.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in SG

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

You weren’t the first one to come up with that investment idea, Buffett’s favourite number, and TSX stocks that have cut dividendsYou weren’t the first one to come up with that investment idea, Buffett’s favourite number, and TSX stocks that have cut dividends GlobeInvestor
Source: globeandmail - 🏆 5. / 92 Read more »