Economic news has remained generally upbeat over the first few months of 2017, supporting our expectation of higher global growth this year. Approaching the half-way point of the year, the issue is becoming the sustainability of the improvement in the data, especially inflation.
- Higher global growth expectation, but cautious on reflation
- Policy uncertainty high in the US
- China near-term stability comes at expense of medium-term sustainability
- Global institutions in defence of free trade
- Monetary policy on hold in the antipodes
- No significant changes to current investment strategies
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