In this outlook, we take a look at following topics:
- The market narrative for the year ahead as well as where we see opportunities in 2017.
- The single most important event of the last quarter – the election of Donald Trump – and what challenges and consequences we think this suggests for markets in the foreseeable future.
- The cyclical upswing in the US which has revived animal spirits and buoyed expectations in global growth.
- The process of fiscal reform and fiscal stimulus and why they could be messy and drawn out.
- The ECBs conditional retreat from quantitative easing and our expectations that the bank will further taper the pace of purchases at the start of 2018.