Market observers have been keeping a close eye on short-term factors such as market dynamics, sentiment and investor behaviour in the past three months. Meanwhile, the corona crisis has not gone away and the economic impact is only just starting to be felt, says Ewout van Schaick, head of Multi Asset at NN Investment Partners.

Joining Ewout in our latest podcast is Marco Willner, who became NN IP’s head of investment strategy in April. His first order of business was to formulate a medium-term outlook that envisions the possible futures that lie ahead in the coming two years. He maps out two boundary scenarios, one in which the economy recovers quickly and one in which it heads to a prolonged stagnation. Seven factors will push the actual outcome one way or the other, he explains.