There’s been plenty for traders and portfolio managers to look back fondly on in 2016, but three days from now, their clients will move firmly into “what’ve you done for me lately” mode. Here are the 10 main macro issues that risk takers and analysts will have to successfully navigate in 2017 (and not all of them are about Donald Trump) --
How much stimulus can the new US administration deliver next year? Global markets have moved sharply since the election on the narrative of fiscal stimulus and productivity-enhancing deregulation. Once Trump takes office, however, the “hope” trade comes to an end and he’ll have to start producing if recent trends are to continue. Infrastructure spending in particular looks vulnerable to a disappointment.
