Markets   |   Feb 6, 2020

Market Update – February 2020

FROM THE GLOBAL CIO OFFICE – By Candice Bangsund, Vice President and Portfolio Manager, Global Asset Allocation

Candice Bangsund
Vice President and Portfolio Manager, Global Asset Allocation

Just as one source of investor angst faded at the beginning of 2020, another intensified. After simmering trade tensions fueled a blockbuster start to the year, sentiment took a turn for the worse after the outbreak of the Wuhan coronavirus threatened to derail an already-fragile global growth backdrop. The epidemic, and efforts to contain it has forced investors to reassess the outlook for the world’s second-largest economy and by extension, global growth prospects. Importantly, Chinese policymakers responded swiftly with new measures to stem the damage to both financial markets and the economy – though uncertainty is surely to prevail in the near-term until the virus has been contained.