2021 Global Market Outlook
Managing to the Other Side
 
This year's global pandemic tested companies' and investors' ability to manage their way through an unforeseen and dangerous period. We believe the other side of that journey could come into view in 2021 with new coronavirus vaccines offering a potential lift for economies.

Four key themes will impact investors in 2021. Prepare for what's ahead with expert insights on how to navigate them.
 
Theme one: An uneven Road to Recovery: New coronavirus vaccines offer a potential lift for economies in 2021. However, a spike in COVID 19 cases could slow recovery in the first quarter.

Theme two: Style Dispersion Amid Disruption: Economic improvement could shift spending from firms that gained during the pandemic to cyclical names damaged by it, potentially favoring value over growth.
Theme Three: Creativity in a Low-Yield Era: Fixed income investors will need to be creative in 2021, as low yields and tighter credit spreads could make attractive returns harder to find.
Theme Four: Politics and the Pandemic: Social and economic upheaval caused by the pandemic could worsen political divisions. Tensions between the U.S. and China are another potential flashpoint.