UBS' O'Neill on the potential risks awaiting investors next year

Bill O'Neill, head of investment office UK at UBS Wealth Management, shares his views on where the risks lie in markets in the coming year.

Europe has, by and large, been a disappointment for many investors in 2014, with low growth and continued fears of deflation affecting confidence. Banks could, however, help lift the economy in 2015. Demand for credit has turned from negative to positive in recent months. The completion of the ECB's asset quality review should make banks more confident in extending credit, especially given the very low cost of borrowing. Yet, concerns are still abundant, with a ‘diverging world' sitting right at the top of the risks that worries us the most. There are both good and bad divergences occ...