Blackstone's Byron Wien released his annual 'Ten Surprises' list for 2020, which includes all-time highs and bouts of volatility.
In 2020, Blackstone Vice Chairman Byron Wien predicts that there will be no trade deal, the Fed will cut interest rates twice and the S&P 500 will rebound to an all-time high despite an increase in market volatility, he said in his annual "Ten Surprises" list.
The list has been a must-read on Wall Street since Wien began publishing it in the mid-1980s when he was chief investment strategist at Morgan Stanley. The list, which Wien now publishes together with Joe Zidle, chief investment strategist in Blackstone's private wealth solutions group, compiles events that they view as "probable" — meaning a greater than 50% chance of occurring — that an average investor might view as having only a one in three chance of playing out.Looking ahead, Wien said that in 2020 a recession will be avoided, but that economic growth will fall short of estimates.
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