Barclays Plc strategists led by Emmanuel Cau wrote Wednesday that “as our base case remains one of a mild global recovery and mid-single digit equity upside in 2020, we would use further weakness as a buying opportunity.” While there’s a range of potential outcomes with regard to the virus, financial conditions are “easy” thanks to central banks, and the positioning of long-only funds in stocks is “light,” they wrote.
Pictet Asset Management’s international multi-asset team reduced positions in equities, along with emerging-market debt and currencies, over the past two weeks. But Andy Wong, a senior investment manager at the firm in Hong Kong, says there are now attractive targets in technology, including cloud computing and e-commerce -- which will benefit from a bigger stay-at-home population.
“We expect disruptions to consumption patterns and a possible extended disruption to the global supply chain,” Wong said in an email Thursday.
This article was provided by Bloomberg News.