Outlooks

The Q3 bounce has been stronger than expected, and consumers remain resilient. But with concerns about volatility rising and income still hard to find, it’s clear the challenges of 2020 are not over.

While uncertainty is still top of mind, we believe active managers will find opportunity in the dispersion across asset classes, industries and ratings

After a decade of strong performance in which property prices more than doubled, the commercial real estate market, like many other markets across the globe, was halted in its tracks by the pandemic.

Despite multiple “worst-ever” indicators, U.S. equity and corporate credit markets rallied back to near pre-pandemic levels in Q2. With markets trending one way and economic data another, we’re left with mixed signals.

Q3 starts off at a weaker place than any quarter since WWII as a result of the COVID-19 pandemic, but with reopening has come optimism.

The outbreak of COVID-19 has caused an unprecedented dislocation in economic activity. We assess the current economic reality, the state of the CRE market as it entered this crisis, and what we’re watching as we progress through it.