While set for a contraction of -2.9% in 2020, we expect the global economy to rebound strongly to grow by 4.9% in 2021.
The eurozone appears poised to emerge from the COVID-19 crisis in better structural shape as the shock has driven greater transformative integration efforts than in earlier crises.
Emerging Markets Outlook
COVID-19 may cause emerging markets economies to contract by about 1.5% this year, an extraordinarily weak historical
performance but a little better than projections in June.
While EM growth will likely recover in 2021, any significant change to global supply chains as fallout from US-China relations may make future EM outperformance more challenging.
Global Capital Markets
With counterbalancing risk and rewards across most major macro issues, a heightened focus on relative value trade-offs within broad asset classes characterizes our current outlook.
Although pandemic uncertainty and the low level of interest rates have driven the corporate sector to lever up by issuing an avalanche of bonds, both investment grade and high yield bonds offer better prospects than government bonds.
You should obtain and read a Key Investor Information Document and Prospectus relating to the SSGA Cash funds prior to investing. Further information, including the annual and semi-annual reports and the Key Investor Information Document and Prospectus describing the characteristics, charges, expenses and risks involved in your investments are available for residents of countries where SSGA cash funds are authorized for sale, at www.ssga.com/cash and from your local SSGA office or by calling +44 (0)20 3395 2333.
Investing involves risk including the risk of loss of principal. It is possible to lose money by investing in the funds.
Before investing, carefully consider a fund's investment objectives, risks, charges and expenses. Click the link to obtain a prospectus which contains this and other information, or by calling +44 (0)20 3395 2333, please read it carefully before investing.
SSGA LPLC UCITS
State Street Global Advisors Liquidity Public Limited Company ("the Company") is an umbrella type investment company with variable capital having segregated liability between its sub-funds. The Company is organised as an Undertaking for Collective Investment in Transferable Securities (UCITS) under the laws of Ireland and authorised as a UCITS by the Central Bank of Ireland.
This website is directed at Qualified Investors only, as defined by Article 10(3) and (3ter) of the Swiss Collective Investment Schemes Act (“CISA”) and its implementing ordinance. Certain funds may not be registered for public distribution with the Swiss Financial Market Supervisory Authority (FINMA), which acts as supervisory authority in investment fund matters, or may not have appointed a Swiss Representative and Paying Agent. For those funds which have appointed a Swiss Representative and Paying Agent, the prospectus, the articles of incorporation, the Key Investor Information Document (KIID) as well as the latest annual and semi-annual reports may be obtained free of charge from the Swiss Representative and Paying Agent, State Street Bank International GmbH, Munich, Zurich Branch, Beethovenstrasse 19, 8027 Zurich, or at www.ssga.com, as well as from the main distributor in Switzerland, State Street Global Advisors AG (“SSGA AG”), Beethovenstrasse 19, 8027 Zurich. For those funds which have not appointed a Swiss Representative and Paying Agent, please observe that the funds are open to Qualified Investors at the exclusion of Qualified Investors with an opting-out pursuant to Art. 5(1) of the Swiss Federal Law on Financial Services ("FinSA") and without any portfolio management or advisory relationship with a financial intermediary pursuant to Article 10(3ter) CISA (“Excluded Qualified Investors”). For further information and fund documents please contact SSGA AG.
You should obtain and read the sales prospectus and relevant Key Investor Information Document (KIID) prior to investing, which may be obtained by clicking here. These include further details relating to the State Street Global Advisors Liquidity Public Limited Company funds, including information relating to costs, risks and where the funds are authorised for sale.