J.P. Morgan: Investors have policymakers to thank for 2020 investment returns

J.P. Morgan: Investors have policymakers to thank for 2020 investment returns

4 januari 2021

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Investors who held their nerve during the market volatility in 2020 were broadly rewarded. Markets recovered from the sharp falls early in the year thanks to the interventions of central banks and governments.

The interest rate cuts, quantitative easing and liquidity measures of central banks helped governments finance essential fiscal measures to support their economies at record low interest rates. This helped to support equity and credit valuations and reassured investors that policy would remain supportive until vaccines could pave the way to a return to normality. We expect policy to remain accommodative in 2021, though investors would be prudent to watch for how the emergency measures are gradually withdrawn, given the potential to generate market volatility.

%, 2020 total returns

JPMorgan_Insights_Weekly_Brief_EN

Source: Bloomberg Barclays, MSCI, Refinitiv Datastream, J.P. Morgan Asset Management. For information on the indices used please refer to Asset class returns in J.P. Morgan Asset Management’s Guide to the Markets. Data as of 30 December 2020.

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