Please upgrade your browser

We take your security very seriously. In order to protect you and our systems, we are making changes to all HSBC websites that means some of the oldest web browser versions will no longer be able to access these sites. Generally, the latest versions of a browser (like Internet Explorer, Google Chrome, Apple Safari, etc.) and an operating system family (like Microsoft Windows, MacOS) have the most up-to-date security features.

If you are seeing this message, we have detected that you are using an older, unsupported browser. 

See how to update your browser

House Views - Riding the storm

This commentary offers our latest Investment Strategy House Views.
27 September 2019
    Read in PDF formatEnglish, PDF, 762.71KB
    Print this article

    Key takeaways:

    • All year analysts have fretted – wrongly, in our view – over an imminent recession and investment returns have been strong across the board so far
    • Nevertheless, the fundamental outlook remains tricky with political uncertainty imposing an economic cost
    • As we move into Q4 we are still in the "political-economy cycle" that has characterised much of the year. We need to continue to ride the "storm" of uncertainties
    • Our valuation work continues to suggest a pro-risk stance in multi-asset portfolios. However, given downside risks to global growth, we should be careful not to over extend the risk positioning