3rd quarter Outlooks
Weathering Uncertainty on the Path to Recovery
The State of Credit Markets:
READ OUTLOOK SUMMARY
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Global Real Estate
4th QUARTER 2020 OUTLOOK
Given the fraught U.S. elections, the unpredictable path of the coronavirus, and the effects from the flood of monetary and fiscal stimulus, PGIM Fixed Income sees more uncertainty in the near term than in the long term. Going into the fourth quarter, PGIM Fixed Income is carefully analyzing short-term scenarios while focusing on a more favorable credit-related environment going into 2021.
4th Quarter 2020 Outlook & Review
During the first half of 2020, the COVID-19 pandemic and resulting lockdowns led to the most severe global economic contraction in decades. As lockdowns were eased and restrictions were loosened in Q3, we saw a surge in economic growth. Nonetheless, there are already signs that the pace of global growth is losing momentum and that growth in Q4 will inevitably be slower than in Q3.
Market Review and 4TH Quarter 2020 Outlook
ASSESSING THE BENEFITS OF DIVERSIFICATION DURING A DOWNTURN
The outbreak of COVID-19 quickly turned into a severe shock. The decline in economic output recorded in the first half of 2020 makes the fallout from the 2008 global financial crisis seem mild in comparison. Across global real estate markets, transaction volume has also slowed sharply and values are under pressure — notably in retail and hotels. As the fourth quarter unfolds, PGIM Real Estate is focused on the current environment and helping investors navigate difficult portfolio decisions. Expanding on the ideas first presented in its 2020 Global Outlook report: Real Estate During a Crisis, PGIM Real Estate suggests that even though returns may be lower during a downturn, the benefits of diversification and effective asset allocation increase significantly.
Market Outlook Webinar
In the third quarter, equity markets continued their vigorous post-March rally as the realities of Covid-19 continued to dictate daily conduct for individuals, businesses, and governments around the world. While the pandemic may continue to disrupt activity around the globe, we are optimistic that an effective vaccine is on the horizon; however, it may be 12-18 months before a finished product, a prerequisite for a broad-based recovery in confidence and activity, is available. Over the last several months, investors continued to demonstrate their preference for businesses that were thriving before Covid-19 and that have benefitted from pandemic-related tailwinds and enhanced competitive positions.
DOWNGRADES, DEFAULTS AND OPPORTUNITIES
Responsible Investing in a Post-Pandemic World
COVID-19 has been a catalyst elevating responsible investing to the forefront. While a consensus remains elusive on an optimal approach—whether active or passive, fundamental or systematic, methodologies and rules used by ESG ratings—many institutional investors around the world are increasingly evaluating their portfolios and asset class exposures through the prism of ESG.
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In this webinar, PGIM examines how responsible investing is rapidly evolving, assess the pace of integration of ESG factors into institutional portfolios, and review the changes in the approaches investors are taking towards greater sustainability and impact.
October 22, 2020 | 11:00 AM EDT | 4:00 PM BST
Deeper Down the Rabbit Hole of Uncertainty
In one of the most volatile and unpredictable years ever, investors find themselves entering what is likely to be the most consequential phase of 2020. With acute uncertainty, heightened risk, and wide dispersion on the horizon, markets might be headed towards a material inflection point.
Replay to be available soon