So far, 2014 has certainly met our expectation of “less return, more volatility” compared with last year. But in many ways, the short-term challenges facing the U.S. seem relatively tame compared to a variety of big macro issues in other parts of the world. As we approach the end of the first quarter, it is a good time to review the underpinnings of our outlook for the full year.
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This somewhat ominous send-off phrase is often called—without any credible provenance—“the Chinese curse.” Whether it originated there or not, the words now apply to China itself. Given its status as the most populous country and second-largest economy, it figures that China’s interesting times would have more than a glancing impact on the rest of the world. Below we assess recent...
After a year of unusually low volatility in 2017, domestic and international markets have treated investors to a wild start in 2018.