Epstein Secrets

% in 2017, with looser fiscal policy and still easy monetary policy in key countries. e And last but not least, we expect that while President-elect Trump’s initial policy measures with respect to tariffs and trade agreements risk jolting financial markets, as a self-described “deal maker” he will likel

edit-to-GDP ratio and its long-term trend in percentage points. Long-term trend is calculated using an HP filter. Source: Investment Strategy Group, Bank for International Settlements. direct investment has reversed and is now negative. In our view, neither China’s high savings rate nor its increasing government control of financi

tem, October 3, 2016. itra Toossi, “A Century of ange: The U.S. Labor Force, 950-2050," Monthly Labor Review, Bureau of Labor Statistics, May 2002. Donald J. Trump, “Remarks,” speech delivered at the New York Economic Club, September 15, 2016. Chair Janet L. Yellen, “Current Conditions and the Outlook or the U

or Review, Bureau of Labor Statistics, May 2002. Donald J. Trump, “Remarks,” speech delivered at the New Yor

ion: Tension between the US and European Union eased significantly after a July 2018 deal between European Commission President Juncker and President Trump to “work together toward zero tariffs, zero non-tariff barriers and zero subsidies on non-auto industrial goods”. The coast is not totally clear give

between European Commission President Juncker and President Trump to “work together toward zero tariffs, zero non-t

end that clients maintain their strategic allocation to US equities. HOUSE_OVERSIGHT_026920 --- PAGE BREAK --- Sources: Investment Strategy Group, Bank for International Settlements, Bloomberg, Datastream, Goldman Sachs Global Investment Research, Haver, International Monetary Fund, Teneo Intelligence. Endnotes: (1) Kate Davids

er and Executive Vice-President General Manager, Bank for International Settlements (BIS), Basel Vice-President International News an

ni Adi B. Godrej Jamshyd N. Godrej Daniel Goffart Donald J. Gogel Rick Goings Ayla Géksel Yair Goldfinger l