Legal & General's Morrissey on Markets, Valuations, Brexit

The video discusses the current pressures on global markets, particularly focusing on the US, Chinese, and European markets. It examines the impact of trade tensions and compares market valuations in the US, Europe, and Japan. The discussion highlights the resilience of the US market due to its entrepreneurial spirit and explores global investment strategies, emphasizing the importance of technology and renewable energy. The video also addresses the uncertainties surrounding Brexit and its potential impact on trade and manufacturing.

What is the main challenge in modeling market scenarios during political inflection points?

• Consistent investor behavior

• Unpredictable political decisions

• Lack of historical data

• Stable market conditions

How does the US market valuation compare to Europe and Japan?

• Lower than both

• Higher than both

• Equal to Europe

• Equal to Japan

What characteristic is highlighted as a strength of the US market?

• High interest rates

• Entrepreneurial spirit

• Low inflation

• Strong government intervention

Which sector is expected to create different winners and losers in the future?

• Automotive

• Retail

• Agriculture

• Technology

Why are US bonds considered attractive compared to European bonds?

• Stable currency

• Lower risk

• Government backing

• Higher yields

What is a major concern for manufacturers regarding Brexit?

• Tariffs on imports and exports

• Increased labor costs

• Lack of raw materials

• Decreased consumer demand

What is the speaker's view on Britain's global opportunities post-Brexit?

• Uncertain

• Indifferent

• Optimistic

• Pessimistic