For much of the third quarter, global risk assets registered positive momentum. While exceptionally easy central bank policy was certainly a driving factor for this performance, recent economic data has also continued to surprise to the upside. Our base case is that second quarter 2020 will mark the trough of economic activity, and while initial third quarter global economic data releases suggest a robust start to the recovery, the path to full recovery will likely be more gradual for most economies. Even the more optimistic Wall Street forecasters don’t expect the global level of output to return to pre-pandemic levels until mid-2021, and almost all forecasters expect material differences with the pace of the recovery between regions.
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.