Gold, pandemic victims and BBB-rated bonds. These are the three areas that DBS chief investment officer Hou Wey Fook advises that investors look at as the world slowly comes out of the Covid-19 pandemic.

On top of a heavy global boost in fiscal spending and near-zero interest rates, economic and normal activities have resumed, says Hou, citing mobility data from Apple and Google. “The world is seeing signs of recovery after a steep recession,” says Hou at the bank’s investment outlook briefing for 4Q2020.

Despite many countries around the world experiencing a second wave of infections as lockdowns were lifted, Hou says that there were lower fatality rates and more successful attempts at “flattening the curve”. As such, he does not believe that the world will undergo another blanket lockdown like what was seen in the first half of the year.

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