下面是小编为大家整理的2020年全球财富报告【精选推荐】,供大家参考。
S oci a l
unr e s t ,
e s c a la t i ng
t r a d e
c on fl i c t s a nd
a n
i nd us t r i a l
r e c e ss i on:
2019
w a s m a rr e d
b y
p oli t i c a l
a nd
e c ono m i c t r ouble s .
B ut
a t
le a s t
one
a c t or r os e
t o t he
c ha lle ng e s :
c e nt r a l
b a nks
a c r os s t he
g lobe .
Not
only
d i d
t he
num b e r of
c e nt r a l
b a nks
i ni t i a t i ng
a
m on e t a r y p oli c y
e a s i ng
i n
2019
r e a c h
a
r e c or d hi g h
s i nce
t he
Gr e a t
F i na nc i a l
C r i s i s
(GFC),
t h e r e
w a s
a ls o
no
h e s i t a t i on
t o us e
unc o nv e nt i onal
t oo ls
t o
i nj e c t li q ui d i t y
i nt o
m a r k e t s .
A s
a
c ons e - q ue nce ,
g loba l
s t ock
m a r k e t s
ha d
one of
t he i r
b e s t
y e a r s
on
r e c or d
–
a nd p r i vat e
s a ve r s
w e r e
shi e ld e d
f r o m
t h e r e p e r c us s i ons
o f
a n
un r uly
w o r ld . The
t ot a l
g r os s
fina nc i a l
a ss e t s
of
t he p r i vat e
hous eholds 1
i n
t he
57
c ount r i e s
w e
c ov e r
i n
our
r e p o r t
i nc r e a s e d
b y
+9 . 7 %
t o
EUR
192
t r n
a t
t he
e nd
of 2019 .
Thi s
w a s
not
only
a
ne w
r e c or d hi g h
i n
a b s olute
a m ount
b ut
a ls o
t he s t r onge s t
g r o w t h
s i nce
2005
(F i g ur e
1 ).
F i g u r e
1 :
S tr on g e s t
fin a n c i a l
a ss e t
gr o wt h
s i n c e
2005
i n
2019
So u r ce s:
na ti onal
ce nt r a l
ba nk s,
sta ti sti c a l
o ffi ce s ,
fi na nc i a l
su p e r v i s o r y
a utho r i ti e s,
a sse t
m a n ag e m e nt
a nd
i nsu r a nc e
a sso c i a ti o n s,
T ho m so n
R e ute r s
E i k o n, A ll i a nz
R e se a r c h.
1
I n c lu d i n g
n o n - p ro fi t
o r g a n i za ti o n s servin g
h o us eh o ld s .
2
Ac c o rd i n g
t o
U N
p o p u l a ti o n
fi g ures a n d
I M F
GD P
d a t a ,
t hes e
57
c o u n t ri es
re p res en t ed
72 %
o f t h e
wor ld
p o p u l a ti o n
a n d
92% DEVEL OPM ENT
O F F INANCI AL
A SSET S: WEA L TH
I MM UN IT Y
F o r e c as t
o f wor l d
n o m i n a l
G D P
i n
201 9.
The
b uoya nt
s t ock
m a r k e t
p e r f o r m a nce le d
t o
a n
i nc r e a s e
o f
t h e
a ss e t
c la ss of
s e c ur i t i e s
(s ha r e s ,
b onds
a nd
i nve s t - m e nt
f u nd s )
b y
+ 13 . 7 % ,
b y
f a r
t he hi g he s t
g r ow t h
r a t e
of
t he
t hr ee
m a i n a ss e t
c la ss e s
i n
p r i vat e
hous e ho ld s ’ p or t f oli os .
Thi s
d y na m i c
d e v e lop m e nt not
only
m a d e
g oo d
f o r
t he
los s e s i n
2018 ,
b ut
s e c ur i t i e s
c li m b e d
t o a
ne w
r e c or d
hi g h
o f
E UR
77
t r n.
The
g r o w t h
r a t e s
o f
t he
ot he r
t w o
a ss e t c la ss e s
w e r e
lo w e r
b ut
s t i ll
i m p r e ss i ve : L i f e
i ns ur a nce
a nd
p e n s i on
f und e nt i t le m e nt s
r e a c he d
a
p lu s
of
+8 . 1 % , m a i nly
r e fl e c t i ng
t he
r i s e
of
unde r ly i ng a ss e t s ,
a nd
a m o unt e d
t o
EUR
58
t r n b y
t he
e nd
of
t h e
y e a r .
A nd
b a nk d e p os i t s
of
t h e
p r i vat e
hous e ho ld s w e r e
f u ele d
b y
p r e c a ut i on a r y
s a vin g s i n
unc e r t a i n
t i m e s
a nd
i n c r e a s e d
b y
+6 . 4 %
t o
EUR
52
t r n
a t
t he
e nd
o f t he
y e a r .
I n
f a c t ,
a ll
a ss e t
c la ss e s c locke d
g r ow t h
s i g ni fic a nt ly a b ov e
t h e i r long - t e r m
a v e r a g e s
s i nce
t he
GFC, whi c h
s t a y
a t
+5 . 6 %
(b a nk
d e p os i t s ),
+8 . 0 %
(s e c ur i t i e s ),
a nd
+ 5 . 7 %
(i ns ur a nce a nd
p e ns i ons ),
r e s p e c t i v e ly .
2019
w a s i nd ee d
a
b u m p e r
y e a r
f or s a ve r s .
Cris is? W hat
cris is? C ov i d - 19
p lung e d
t he
w o r ld
e c onom y
i nt o
t he
d ee p e s t
r e c e ss i on
i n
100
y e a r s .
S t ock
m a r k e t s
w e nt
i nt o
f r ee
f a ll
a nd
p r i vat e hous e ho ld s
s a w
t he i r
a ss e t s
t um b le ,
a s
e xp e c t e d
w he n
e c onom i e s
a nd
m a r k e t s
a r e
i n
t ur m oi l
a s
t he y
w e r e
i n
t he
fir s t
q uarte r of
t h e
y e a r
2020 .
B ut
t h e n
t he
s t or y
of
t he
p a nd e m i c
t oo k
a
r a t h e r
s ur p r i s i n g
a nd
p os i t i ve
t w i s t ,
a t
le a s t
f or
s a ve r s . Na t i onal
c e nt r a l
b a nks
a nd
fis c a l
a ut hor i t i e s
a r ound
t he
w or ld
r e s p ond e d
q ui c k ly a n d
b oldly
t o
c ont a i n
t he
p a nd e m i c - r e la t e d c r i s i s
a nd
fir e d
up
unp r e c e d e nt e d
m one t a r y
a nd
fis c a l
b a z o ok a s .
Thi s
w i ll
p us h
g loba l
p ubli c
d e b t
t o
a n
a ll - t i m e
hi g h of
130 %
o f
G D P
i n
2020 ,
e x c ee d i ng
e v e n
t he
le ve ls
s ee n
d u r i ng
t he
S e c ond
W or ld
W a r .
I t
a ls o
i mm e d i a t e ly
s p a r k e d a
t e c h - le d
r a lly
i n
s t ock
m a r k e t s .
A s
a
c ons e q ue nce ,
ou r
e s t i m a t e s ,
b a s e d
on
la t e s t
a vai la b le
d a t a ,
s ugg e s t
t ha t
p r i vat e
ho us eholds
ha ve
b ee n
a b le
t o
r e c oup t he i r
los s e s
of
t he
fir s t
q uart e r
a nd
r e c o r d e d
a
s li g ht
+1 . 5 %
i nc r e a s e
i n
g loba l
fina nc i a l
a ss e t s
b y
t he
e nd
o f
t he
s e c ond
q u a r t e r of
2020 .
W hi le
s e c u r i t i e s
b a la nce s
w e r e
s t i ll
i n
t he
r e d
w i t h
- 1 . 5 % ,
b a nk
d e p os i t s
ha ve
i nc r e a s e d
b y
a
w hopp i ng
+7 . 0 %
s i nce
t he e nd
of
2019 .
Thi s
w a s
m a d e
p os s i b le
b y
t he
g e ne r ous
p u b li c
s upp or t
s c he m e s
t ha t
c us hi one d
t he
b lo w
t o
i nc om e s ,
a nd
b y
t he lockdo w ns t ha t
li t e r a lly
d e p r i ve d
hous eholds
o f
t he
opp o r t uni t y
t o
c ons um e
a s
us ual;
t he
unp r e c e d e nt e d
le v e ls o f
unc e r t a i nt y d i d
t he
r e s t
t o
c onvin c e
hou s eholds
t ha t
a cc um ulat i ng
s a vin g s
i s
t he
or d e r
of
t h e
d a y .
I ns ur a nce
a nd
p e ns i ons ,
on
t he
ot he r ha nd ,
r e m a i n e d
m or e
o r
le ss
fl a t
(F i g ur e
2 ).
L oo k i ng
b r i e fl y
a t
t he
r e g i o na l
s p li t ,
i t
b e c om e s
e vid e n t
t ha t
t he
r e c ov e r y
i n
fina n c i a l
a ss e t s
i s
m a i nly
d r i ve n
b y
t he
t w o he a vyw e i g ht s
C hi na
a nd
t he
U. S ..
I n
p a r t i c ular,
C hi ne s e
hous eholds
w e r e
a b le
t o
p r ot e c t
t he i r
w e a lt h
f r o m
t he
p a nd e m i c a nd
i nc r e a s e d
t he i r
a ss e t s
b y
m or e
t ha n
+7 %
i n
t he
fir s t
s i x
m onths of
2020 ,
a lm os t
i n
li ne
w i t h
t he
a ve r a g e
o f
t he
l a s t
d e c a d e . C o m pa r e d
t o
t hi s ,
t he
+1 . 4 %
i ncre as e
i n
U.S .
financ i al
as s e t s
loo k s
a
li tt le
f ee bl e
but
has
t o
be
s ee n
ag ai ns t
t he
ba ckdr o p of
C o vid - 19
a rr i vin g
la t e r
b ut
m uch
m or e
f o r c e f ully
t o
U. S .
s hor e s .
H ouseh olds
i n
t he
Eu r oz one ,
o n
t he
ot h e r
ha nd ,
s hould a t
le a s t
ha ve
b ee n
a b le
t o
a vo i d
w e a lt h
los s e s .
M os t
house holds
i n
Em e r g i ng
M a r k e t s
w e r e
n ot
a s
lucky :
fina nc i a l
a ss e t s d e c li ne d
a c r os s
t he
b oar d ,
a l t hough
t he
d e c li ne s
w e r e
n ot
d r a m a t i c
(a r ou nd
- 2 %
t o
- 3 % ).
A s
t he
p a nd e m i c
s i t uat i on
r e m a i ns
hi g hly
uns t a b le ,
f o r e c a s t s
f or
t he
r e s t
of
t h e
y e a r
a r e
unc e r t a in.
H o w e v e r ,
i f
w e
a ss u m e ongoi ng
p ubli c
s upp or t
p r og r a m s ,
a
c ons t r a i ne d
r e c o ve r y
i n
e c onom i c
a c t i vit i e s ,
r e fl e c t i ng
t he
ongoi ng
fig ht
a g a i ns t
C ov i d - 19 w i t h
t a r g e t e d
l ockdo w ns – b ut
no
f u r t he r
t ot a l
lockdo wn s
a nd
t hus no
r e n e we d
d ee p
p lung e
i n
e c ono m i c
a c t i vit y
– a s
w ell
a s m o r e
or
le ss
s t a b le
s t ock
m a r k e t s
a nd
ele vat e d
s a vin g
e ffor t s ,
w e
a r e
opt i m i s t i c
t ha t
p r i vat e
hous e h olds ’
fina nc i a l
a ss e t s c a n
e nd
2020
i n
t h e
b la c k .
M o r e
p r e c i s e ly ,
w e
e s t i m a t e
t ha t
g loba l
fina nc i a l
a ss e t s
w i ll
i nc r e a s e
b y
+3 . 3 %
t o
E UR
198
t r n
b y
t he
e nd
o f
t his
y e a r .
Thi s d e v e lop m e nt
i s
g oi ng
t o
b e
m a i nly
d r i v e n
b y
t he
s a vi ng s
i n
b a nk
d e p os i t s ,
r e fl e c t i ng
t he
p r e c a ut i onary
m ot i ve
a nd
t he p r e f e r ence
f or hi g hly li q ui d
a ss e t s
i n
hous eholds ’
s a vin g
b e ha vio r
i n
t i m e s
of
c r i s e s .
H ence ,
w e
e xp e c t
b a nk
d e p os i t s
t o
i nc r e a s e b y
+1 0 . 8 %
unt i l
t he
e nd
of
t he
y e a r ,
s e tt i ng
a
ne w
r e c or d ;
t he
p r e vious
g r ow t h
r e c or d
w a s
s e t
d ur i ng
t he
GFC
i n
2008 w i t h
a n
i nc r e a s e
of
+ 7 . 9 % .
S e c ur i t i e s
s hould
m o ve
s i d e w a r d
whi le
i ns ur a nce
a nd
p e ns i ons
m i g ht
b e
a b le
t o
r e g i s t e r
a
s m a ll
p lu s of
+ 1 . 0 % .
A lt hough
t he
+ 3 . 3 %
g r ow t h
r a t e
w ould
m a r k
t he
f our t h - low e s t
g r ow t h
r a t e
w i t hi n
t he
la s t
t w o
d e c a d e s
...
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