We are moderately overweight risk as we prepare to enter 2020, as the global economy shows signs of stabilization after an episode of mid-year weakness. We expect markets to focus on the tensions between organic economic growth and the risk associated with geopolitical uncertainties such as the U.S.-China trade war, Brexit and the 2020 U.S. election.

What other possibilities do we see heading into 2020? Read Viewpoints: January, 2020