Monthly Comment January 2020

The new year started with a positive trend on the world’s markets but moved into negative territory in the second half of the month. Brexit, the impeachment against President Trump and the attack on an Iranian military officer did not significantly affect the markets – rather, economic statistics gave support. The declines were instead caused by the outbreak of the Corona virus in China. The consequences of the outbreak remain unclear, but financially we will probably see a negative effect in both Q1 and Q2 reports as a result of lower economic activity. However, the impact on stock markets could still be limited if the outbreak turns out to be under control.