CIO outlook: Year of change

This is an extraordinary moment for investors. As at the beginning of December, many asset classes have notched up double-digit returns over 2019, with equities hovering close to record highs even as trillions of dollars of bonds offer negative yields. And yet we cannot dwell too long on the factors that have taken us to this point, as 2020 is likely to be a year of change – from the holders of key posts at major central banks, to the EU leadership, to the US presidency.