Quarterly Outlook
Q3 Investor Outlook: Beyond American shores – why diversification is your strongest ally
Jacob Falkencrone
Global Head of Investment Strategy
Steen Jakobsen
Chief Investment Officer
Summary: EM assets are trading at a deep discount, but a shift in growth leadership from the US to China could lead to a weaker US dollar, which would support commodities and EM again. Meanwhile the simmering Sino-US trade war heightens the risks for the global economy, and we are at a crossroads on several fronts: globalisation, geopolitics, and economics.