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Global markets in risk-off mode amid rise of new virus
28 January 2020
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    Key takeaways:

    • Global equity markets have sold off over the past week or so amid concerns regarding the spread of the novel coronavirus (2019-nCoV)
    • The disruption associated with attempts to contain the spread of the virus, combined with confidence effects, is likely to weigh on near-term growth in China
    • Although there are near-term downside risks to China’s economic growth, Asia/EM corporate earnings and global equity market performance, we see scope for a recovery once the growth rate in 2019-nCoV cases starts to decline. Overall, we remain overweight global equities and maintain a pro-risk stance in our multi-asset portfolios

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