As Covid-19 sweeps across the globe, a recession looks unavoidable.
Asia was first into the coronavirus crisis, with China officially reporting cases in mid-January, but it is showing encouraging signs that it may be the first to emerge from it.
Following a strong showing in 2019, we expect Asia's fixed income markets to benefit from supportive investor sentiment as underlying economic growth in the region stabilises in 2020.
What lies ahead in 2020? Will the US economy tip into recession or accelerate? Will Brexit make or break the UK and its erstwhile partners in Europe?
Asian equity markets have underperformed developed markets since around the taper tantrum in 2013, driven partly by monetary policy and tax cuts in the US and partly by investors’ caution on Asia.
Stockmarkets finish 2019 at three-year highs
China has risen fast and accomplished much in 70 years of the People's Republic, but nothing rises smoothly.
Macroeconomic factors in Asia including the US-China trade war, Hong Kong’s political unrest and India tackling an economic slowdown, are likely to remain impediments to growth in 2020.
As the trade war rumbles on, presidents Donald Trump and Xi Jinping need to agree on a trade deal, as both economies are weakening.
Concentrated portfolio of 20 to 40 high-quality companies
New hire strengthens Chinese equity capability at Investec AM
Which funds stole the show?
Global equities and mixed asset funds popular
Growth could be unimpeded by trade tensions
MSCI has recently increased the Chinese A-share market's inclusion factor from 5% to 20%.
The consumer markets of China, India and Indonesia have grown at year-on-year rates of 5.9% to 9.5%.
The Bigger Picture on fund selection
The US administration appears to be targeting export-oriented entities out of China.
Joining as head of Asia Pacific ex Japan
Last year, we concluded it was probable markets would have a last hurrah and that maybe even Asian equities would catch a bid.
'Nobody wins in a war'
Markets have reacted with increased volatility
Focus on Asia income