It has been a turbulent year for investors, as, following a decade where volatility as low and returns high, both equities and bonds fell sharply.
But as of the start of December, the FTSE 100 is above the level at which it started the year, while equities have generally performed better in the fourth quarter.
Those gains have however come at a time when economic growth is grinding to a halt, and recessions are forecast for most of the globe.
Article continues after advert
In such a scenario, equity prices would be expected to fall, almost regardless of the level of starting valuation.
In this FTAdviser Vantage Point poll, you have the opportunity to express your view on the question.
david.thorpe@ft.com
