Most forecasts for the year ahead are not taken seriously, perhaps with good reason, writes Raphael Pitoun (pictured), CIO of Seilern Investment Management.
Financial markets are heavily distorted by the unprecedented market presence of central banks. Markets have become extremely sensitive to changes in central bank actions.
S&P 500 and Dow Jones both down
Elevated chance of a sell-off
Investors can 'sleep easily'
Analysis of bond market movements
Rising real interest rates a big risk