During 2017, investors enjoyed several positive surprises.
'Three cycles are colliding'
We are cautiously optimistic about emerging market (EM) equities this year. Valuations are reasonable and risks look to be largely contained.
Strengthening dollar a risk
Emerging and frontier market equities saw strong performance in 2017
World economy to expand 3.9% in 2018
Barring a zombie apocalypse or a sudden spontaneous collapse in asset prices, the current Goldilocks environment of synchronized, above-trend global economic growth and low but gently rising inflation will likely persist in 2018.