The global economic growth outlook has been savaged by the impact of Covid-19 driven lockdowns. GDP will contract across the board in 2020, with few exceptions.
The deployment by central banks of major policy stimulus measures has been matched by considerable fiscal programs as governments place economic rejuvenation ahead of debt levels
Emerging Markets Outlook
Covid-19 containment measures and the loss of economic activity means GDP in emerging countries as a whole will shrink
by close to 2.0% in 2020, a steep drop from typical annual growth of over 4%.
China is a notable exception, with the country that was first impacted by the coronavirus outbreak likely to be the only large economy, developed or emerging, to record GDP growth this year.
Global Capital Markets
The progression of COVID-19 and the US Presidential Election will garner much of the headlines in the second half of 2020, but it is important not to underestimate the market structure and business models that differentiate equity markets around the world.
With the worst of the liquidity crisis healed by central bank accommodation, gold stands out as a useful diversifier for multiasset portfolios in a world beset by negative real interest rates, rising debt levels and potentially pivotal policy risks on the horizon.
Investing involves risk including the risk of loss of principal. The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without SSGA’s express written consent.
The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor. All material has been obtained from sources believed to be reliable. There is no representation or warranty as to the accuracy of the information and State Street shall have no liability for decisions based on such information.
Disclosure related to each of the State Street Institutional Liquid Reserves Fund and the State Street ESG Liquid Reserves Fund: You could lose money by investing in the Fund. Because the share price of the Fund is expected to fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund's sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.
Distributor: State Street Global Advisors Funds Distributors, LLC, member FINRA, SIPC, a wholly owned subsidiary of State Street Global Advisors, Inc.. The Fund pays State Street Bank and Trust Company for its services as custodian, transfer agent and shareholder servicing agent and pays SSGA Funds Management, Inc., an affiliate of State Street Bank and Trust Company, for investment advisory services.
Before investing, carefully consider a fund's investment objectives, risks, charges and expenses. Click the link to obtain a prospectus or summary prospectus which contains this and other information, or by calling 1.877.521.4083. Please read it carefully before investing.