Market Update - December 2019

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

In October, investor appetite for risk flourished amid hopes for a de-escalation in the US-China trade fiasco, lower odds of a disorderly no-Brexit deal, and as central bankers conveyed a message of accommodation across the globe. Meanwhile, incoming economic results revealed a mixed outlook on the state of the global economy, while the corporate earnings season got off to a healthy start. Importantly, while Chinese officials cast doubts about reaching an all-encompassing long-term trade deal with the US, the two sides indeed got closer to signing a “phase one” agreement and made some important concessions to do so.