Berenberg's Pickering, HSBC's Kettner on Global Growth, Markets

The video discusses global economic risks, including trade tensions and Brexit, and their impact on growth. It analyzes asset class performance, highlighting valuation concerns in risk assets. The yield curve's implications for economic expectations are explored, with a focus on bond yields. The equity market outlook is examined, noting potential challenges in Asia. Finally, macroeconomic concerns and recession risks are discussed, emphasizing the importance of avoiding excesses in the current economic cycle.

What is a key factor that could improve global growth and trade according to the video?

• A complete failure of Brexit

• A major advance in the US-China trade skirmish

• China's stimulus gaining momentum

• Increased political instability in Europe

Which asset class is mentioned as potentially needing a correction due to high valuations?

• Equities

• Risk assets

• Bonds

• Commodities

What is the primary driver of equity performance year to date, as mentioned in the video?

• Increased dividends

• Economic growth

• Expanding valuations

• Earnings per share growth

What is the significance of the inverted yield curve discussed in the video?

• It always predicts a recession

• It indicates a strong economic growth

• It reflects current economic expectations

• It has not reflected GDP growth expectations since the financial crisis

What is the expected impact on long-term bond yields if risks fade?

• They will fall as money moves to safe assets

• They will rise as money moves to risk assets

• They will reflect economic expectations

• They will remain unchanged

What is the main reason given for the lack of a recession despite a long economic upswing?

• There is a high level of economic caution

• Economic upswings die of old age

• The global economy is in full steam ahead mode

• Excesses have not built up to necessitate a correction

What is the most frequent question asked about the economic cycle?

• What is the impact of inflation on the cycle?

• How long will the current recession last?

• Why is there no recession yet?

• When will the next boom occur?