With initial credit market adjustments to the pandemic behind us, Vanguard's credit analysts outline further opportunities for active management to add value, including within some of the more COVID-affected sectors.
Vanguard's outlook for 2020 GDP across different markets is largely unchanged from last month although there is the possibility of upside revisions to Asia and Australian forecasts, assuming any second waves of infection don't require national lockdown.
Amid the COVID-19 pandemic, the International Monetary Fund lowered its forecast for growth in emerging and developing economies for both 2020 and 2021. The way out won't be easy. But not all is lost for emerging markets.
The low-interest-rate environment is a favorable backdrop for developed markets to retire pandemic-related debt. Central banks, meanwhile, may soon provide guidance on how they'll start unwinding assets.
22 Jun 2020
read time5 min
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