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According to the US-based Fitch Ratings, global economies will run larger deficits or smaller surpluses in 2020 compared with 2019.

Additional points

“Expects there to be a record number of sovereign downgrades in 2020.“

“Forecasts that for the first time nearly all rated sovereigns will experience an annual fiscal deterioration.”

Market reaction

At the moment, the above headlines are making zero to little impact on the market sentiment.

The European equities are mostly trading lower while S&P 500 futures gain 0.40%. The US dollar trades listless against its main peers, lacking a clear directional bias.

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