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By Lizzie Lowe, Sheila Kulik, Caroline Bligh, and Julia O’Brien, Prudential
In their Q2 2020 market outlooks, PGIM’s asset managers detail their expectations for an unprecedented recession.
The precipitous and devastating impact of the COVID-19 pandemic has left no doubt that global economies have entered an unprecedented recession. Investors are now left to ponder what’s next and to contemplate how deep the contraction might be, and how quickly markets can recover.
QMA’s Global Multi-Asset Solutions team believes that a global recession is unavoidable:
“The big question now is whether it will be a sharp, but short, recession lasting two or three quarters or a more long-lasting economic downturn. The response from global policy makers will also play a critical role in determining whether collateral damage can be minimized. The pandemic itself will worsen before it gets better, and no one can say with certainty when the crisis will abate. For now, QMA remains cautious with portfolio positioning across all risky assets and will continue to closely monitor for downside risk and signs of economic contagion that could push us toward a more adverse economic scenario.”
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