Global Outlook 2017/18

By Jacobus Lacock (Fixed Income Portfolio Manager)

As we entered 2017, market expectations were high for global growth to continue to accelerate. With Donald Trump elected as the new US President, markets believed his fiscal policies would boost US growth and inflation. Trump was not the only driver behind firmer growth expectations. The global economy started to accelerate early in 2016 on the back of stronger Chinese manufacturing, higher commodity prices and reflationary trends emerging out of Europe. Similarly in South Africa expectations for lower inflation, interest rate cuts and a healthier political backdrop have pushed the market towards a better growth outlook for 2017 and 2018…
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