Credit markets are past the first phase of the crisis, the liquidity crunch, and now face the second phase: the economic fallout from the global shutdown. What does this mean for investors and what happens next?
Will maturity dull the growth outlook for businesses such as Facebook, Tencent (owned through Naspers) and Netflix? Might excess supply and growing competition for our time hurt their prospects? Which digital companies still have the greatest opportunities?
The traditional path for clients heading towards retirement is to place their portfolio into a more conservative position. However, given that we are all living longer, retiree portfolios can be more exposed to equity market volatility than perhaps they may have been in the past.