Key themes for global equities in 2020

A US Democratic rally in the Venice Beach neighbourhood of Los Angeles, California, on Dec 21. The presidential election could be tight, which will inevitably bring some focus on economic policies of the various candidates.
A US Democratic rally in the Venice Beach neighbourhood of Los Angeles, California, on Dec 21. The presidential election could be tight, which will inevitably bring some focus on economic policies of the various candidates. PHOTO: AGENCE FRANCE-PRESSE

Wild cards like the US elections have the potential to impact markets against a backdrop of low inflation and muted growth. Equity yields and mergers and acquisitions activity could support global equity markets as earnings estimates are likely to come down.

The pace of technological change seems to be increasing, helped by easier access to capital-funding innovation.

Disruption risk seems to have increased across many, if not all, sectors of the economy, and the speed at which disruptors are able to enter the market and challenge incumbents appears faster.

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A version of this article appeared in the print edition of The Sunday Times on December 29, 2019, with the headline 'Key themes for global equities in 2020'. Print Edition | Subscribe