There Is More Upside Ahead for Markets: Bank of Singapore’s Lee

The transcript discusses the potential impact of the December 15 tariffs on the economy, highlighting the low likelihood of their implementation due to the risk of recession. It analyzes market reactions, noting sharp corrections in equities and bonds, and suggests that President Trump may be bolstering his tariff reputation ahead of a China trade deal. Despite recent news, investor expectations for 2020 remain optimistic, with historical reflation episodes indicating more upside potential. However, starting valuations are higher, suggesting moderated return expectations for 2020 compared to 2019.

What are the potential consequences of the December 15 deadline not being met?

How might the imposition of tariffs affect different asset classes according to the speaker?

What is the speaker's view on the likelihood of a recession if the tariffs are imposed?

In what way does the speaker believe President Trump is trying to bolster his reputation?

What are the speaker's expectations for market returns in 2020 compared to 2019?