Try to imagine a market scenario where chip stocks hit a wall and tumble 50%, or the fallout as President Donald Trump slaps a tax on foreign earnings of American companies.
Outrageous you say? Welcome to Saxo Bank’s annual rite of passage — “Outrageous Predictions 2020,” shock-inducing forecasts that the Danish investment bank’s team has been coming up with the past 20 years.
A couple of last year’s calls came close, such as one that forecast Germany entering a recession — growth grew just 0.1% in third quarter. Another, that Trump would try to fire Federal Reserve Chairman Jerome Powell hasn’t happened, but would have if the U.S. President “had the ability,” Steen Jakobsen chief investment officer, told MarketWatch in a telephone interview.
