ECB

James Sullivan, co-manager of the Miton Special Situations and Strategic portfolios, warns investors not to get too carried away by the New Year optimism.

LIZARD RISK

Bob Doll, chief equity strategist at Nuveen Asset Management, has made ten predictions for 2013, warning the political process in Washington D.C. surrounding the fiscal cliff is the most immediate risk.

For the past 12 months and much of the past two years, two issues dominated investor mentality, at least when it comes to macro-related thinking: one is the US and the other is Europe.

FIXED INCOME

We are increasingly hopeful of a pick up in global growth in 2013. Developments in the US should mean the next upswing will be more sustainable. The Fed has committed to maintaining loose monetary policy long into the upturn, even if this causes inflation...

The ECB has cut growth forecasts for next year as President Mario Draghi warned of a continued gloomy outlook for Europe in 2013.

EUROPE

Tim Drayson, economist at Legal & General Investment Management, reviews the recent pledges of the world's largest central banks and their potential impact on the "great muddling through"

FINANCIALS