The Long Road to Recovery

Scott Minerd, Chairman of Investments and Global CIO, discussed his outlook for markets and the economy with CNBC’s Brian Sullivan during the Milken Institute 2020 Global Conference.

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October 15, 2020

Key Takeaways:

  • The economic impact and monetary policy response to the pandemic is worsening the wealth gap, which could lead to an even more contentious political landscape.
  • More fiscal stimulus is likely regardless of the presidential election outcome as the economy continues to stall, but it is unlikely to be enough.
  • Stocks still have room to run in the near term, but asset classes such as corporate credit are more likely to provide stable returns.
  • Treasury yields are more likely to fall than rise, with a risk of turning negative.

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