Epstein Secrets

from the voters) or will we find relief for the markets if by the end of 2017 froma Fillon/Merkel duo being in charge of the two largest economies in the Euro Area. Recovery - the world looks a better place going into 2017 Reflation has been the big theme of the second half of the year. As we had noted in previ

ound 3% in 2017 and 3.5% in 2018. That in turn would mean a more aggressive Fed and in all likelihood a bigger rise in yields and the USD. Chart 15: BofAML sees GDP accelerating into 2018... Chart 16: ...with inflation picking up too m Global GDP growth % m DM GDP growth % m EM GDP growth % m Global CPI

obal Research Reversal: There is good taper and bad taper The outcome of that would likely affect ECB behaviour too. Our central expectation is for Euro Area growth of around 1 %% and inflation nudging only modestly higher. A much more robust global economy and a stronger USD (presumably weaker EUR} would

. That should be the edge you have at looking across the range of asset classes compared to single asset class investors. We would like to thank our BofAML colleagues who have supported our product this year by providing many such ideas and trust they will continue to do so through 2017. Bankof America

ur China ACT indicator continues to indicate steady growth there too. Our economists forecast 3.5% global GDP growth with EM growth around 4.7%. Our Euro Area growth numbers have been nudged back up towards 1 %% with Brexit not proving to be as much of a drag as feared. We still expect the UK economy to see

een improving Growth indicators have been improving around the world of late. Data since the US election would seem to support that with the PMIs in the Euro Area improving again and their equivalent in the US sustaining the gains seen last month. Our EM indicators remain robust and our China ACT indicator con

ng As a reminder our research team estimate that euro area banks could see as much as €26bn in earnings upli

ar Indicator is now at 7.1, the highest level since Jul'14 and not far from "sell" signal. So is this just a pause for breath in the reflation trade? BofAML strategists think so. In our updated thoughts this morning we think reflation is real so stay long equities, short rates, selectively long USD (clic