Probability of 45% of a U-shaped post-pandemic recovery - UOB

Strategists at UOB Group’s Quarterly Global Outlook 3Q 2020 noted that a U-shaped economic recovery is the most probable scenario after the COVID-19 fallout.

Key Quotes

COVID-19 Containment: By end-Q4 2020

Global Economy: Sharp technical recession in H1, recovery in H2 not strong enough, with global economy recording a full-year contraction in 2020.

Rates: Remain low heading into 2021 but ulikely to head significantly lower.

Currencies: Asia FX to recover gradually, led by RMB.