Global growth acceleration is possible for the first time since the financial crisis. Anik Sen, Global Head of Equities, explores the impact on equities as well as his positive view of emerging markets and small and midcap stocks.
After the fits and starts in economic growth since the global financial crisis, there appears to be a real prospect of achieving accelerating global nominal growth for the first time. We expect the US cyclical recovery to broaden due to a raft of proposed measures and possibilities under the Donald Trump administration, including an increase in credit availability, tax rate reductions, repatriation of corporate cash held abroad, financial deregulation, and higher infrastructure spending. This could have a leveraged effect on emerging markets (EM), particularly for export-driven Asia.
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