11 januari 2012
Keep your Seatbelts Fastened: More Turbulence Ahead

By Jim Cielinski, Macro Strategist and Global head of Fixed Income Threadneedle

• The Eurozone recession and the struggle for a resolution will remain the key market driver in 2012;
• The search for yield combined with relative safety will be the dominant force behind asset flows;
• Reflationary policies will experience yet another global revival;
• Continued deleveraging will place many economies in a perilous position;
• Slow growth, periodic recession scares and high volatility will remain a feature of markets.

What are the winning Strategies for 2012?

Eurozone recession and resolution:       ? – Contingent on nature of resolution

The Search for Yield:                                     Equities, High Yield and Emerging Markets

Reflation:                                                           Equities, Commodities and Risk Assets

Deleveraging:                                                  Bank Credit (be careful!) and Government Bonds

Slow Growth:                                                   Defensive equity and High quality bonds