Global economy will remain fragile in 2020 as risks to credit conditions rise.

Rising political and geopolitical risks are exacerbating slow growth and reducing economies' abilities to respond to shocks.

Trade uncertainty will continue to disrupt supply chains and weigh on investment decisions.

Overall global growth will remain lackluster amid a deceleration in the US and China.

Recession risks will remain elevated in Europe and the US.

Interest rates to remain low and yield curves to remain flat for several years going forward.

Does not expect a recession in 2020, recession risks are building amid a backdrop of trade policy uncertainty in global economy.