36
38
42
44
44
45
SECTION II: WINDS OF CHANGE
2017 Global Economic Outlook
The winds of change should fill the sails of the ongoing global recovery in 2017.
United States Eurozone United Kingdom Japan
Emerging Markets
48
50
56
56
57
S&
S59
60
64
74
SECTION III: THE HORNS OF A DILEMMA
2017 Financial Markets Outlook
We expect the bull market ride to continue, but we must stay vigilant to avoid the horns.
US Equities
EAFE Equities
Eurozone Equities
UK Equities
Japanese Equities Emerging Market Equities Global Currencies
Global Fixed Income
Global Commodities
Outlook | Investment Strategy Group 5
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