Please upgrade your browser

We take your security very seriously. In order to protect you and our systems, we are making changes to all HSBC websites that means some of the oldest web browser versions will no longer be able to access these sites. Generally, the latest versions of a browser (like Internet Explorer, Google Chrome, Apple Safari, etc.) and an operating system family (like Microsoft Windows, MacOS) have the most up-to-date security features.

If you are seeing this message, we have detected that you are using an older, unsupported browser.  

See how to update your browser

Uncertainty breeds volatility

Equity markets fell sharply and Treasury yields touched new lows following an abrupt decline in oil prices and the COVID-19 outbreak in Italy.
12 March 2020
    Read in PDF formatEnglish, PDF, 417.32KB
    Print this article

    Key takeaways

    • Equity markets fell sharply and Treasury yields touched new lows following an abrupt decline in oil prices and further bad news on the COVID-19 outbreak in Italy
    • A concerted effort by policy makers to shore up the growth outlook and confidence is likely to be needed to calm investors’ nerves
    • We estimate that holding a moderate pro-risk stance can produce adequate returns for long-term investors. Nevertheless, given elevated levels of uncertainty, we believe there is still a strong case for a more cautious near-term strategy