The shock to the Eurozone job market in 2020 was considerable. Hardest hit were southern countries, young people and women.

Despite strong fundamentals, growth stock valuations are extreme

The distortions created by central banks make it dangerous to read too much into price signals

Price rises will likely slow next year—before picking up again.

The disruption of global supply chains has been a wakeup call for the European Union. For years, the principle of an open and free Single Market has led to a massive transfer of industrial production and outsourcing mainly to Asia.

Direct-to-consumer, data and the behavioural economy

Upbeat outlook as Japanese market is highly geared to global recovery

Since the mid-1980s, the macroeconomic volatility has declined to a postwar low. The Covid-19 crisis brought one of the largest economic shock in modern history and could mark the end of the Great Moderation i.e. a turning point with higher economic volatility and a shift to a higher inflation regime. Those factors are likely to lead to higher financial market volatility than in the previous two decades.

Beauty is only skin deep, as the saying goes. Francois de Bruin explains what this piece of wisdom means for yield-hungry income investors.

China, Japan, technology, and value have potential to shape global markets in 2021 and beyond.