Feature

Equities climbing 'wall of worry'

Helped by weaker yen

Protectionist agenda has raised concerns

Helped by strengthening US dollar

The events of 2016 have already altered the shape of traditional distribution curves of potential political outcomes, widening the tail of unexpected outcomes and making politics increasingly relevant to financial markets, according to Allianz Global...

Favours pharmaceuticals instead

Technology and EM consumer landscape

Expect heightened volatility

Focus on environment and water quality

The global economy is changing. In an increasingly reflationary environment, companies with strong brands and products - whose earnings are predictable and resilient against deflation - are falling out of favour.