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Cyclical anxieties

In the latest House Views our Global Chief Strategist, Joe Little and his colleagues explore growth worries that have dominated investor thinking.
22 October 2021
    Download the full reportPDF, 4.38MB

    Key takeaways

    1. Is it a "wall of worry"?

      Cyclical anxieties drove markets during Q3 and perceptions of growth are evolving.

    2. What are the key macro trends in the US and Eurozone?

      While Europe's recovery is lagging that of the US, the medium-term outlook remains positive.

    3. Can China overcome its growth headwinds?

      We believe regulatory moves are consistent with China's longer-term development agenda.
    Our view is that covid and supply-chain disruptions delay the economic recovery, rather than derail it
    Joe Little, Global Chief Strategist, HSBC Asset Management