Outlook 2021

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Here’s (Almost) Everything Wall Street Expects in 2021

By Sam Potter

After a year that made a mockery of every best-laid investment plan, the prognosticators of Wall Street could be forgiven for greeting 2021 with an abundance of caution.

Instead if there’s an oversupply of anything, it’s optimism.

Recovery. Revival. Rotation. Reset. These are the words dominating the annual stack of market outlooks from the world’s biggest banks and investment firms for the year ahead. Caveats abound, but the consensus is that after the Covid-spurred crash, the vaccine is setting the stage for a new period of economic growth—and rising asset prices.

Bloomberg News has once again collated and condensed the key calls to present more than 500 of them here by macro theme, asset class and institution.

Grouped by

See outlooks for previous years: 2020 and 2019

Important note: This article contains a list of views compiled by Bloomberg News based on research shared with the media or publicly accessible. The list is not exhaustive. Bloomberg has selected calls it deems to be key, and institutions can hold multiple views across various departments, therefore those on display may not represent the full range held by each firm. In addition, some institutions may not appear because their research was unavailable, or Bloomberg may have judged the contents to be out of date. Many outlooks for 2021 were published before the end of the year, so may not incorporate price moves or events that occurred late in 2020. Base cases are as identified by Bloomberg. Most of the contents has been edited for style, clarity and/or length.

Contributors: Sid Verma, Joanna Ossinger, Cormac Mullen, Cecile Gutscher, Ksenia Galouchko and Dani Burger

Production: Jeremy Scott Diamond

Photography: Yelena Afonina\TASS via Getty Images