Twenty seventeen was marked by sound synchronization of the global economy, which generated attractive stock market returns and a near absence of volatility. Economic conditions will likely remain favourable in 2018 while economic momentum remains strong and inflationary pressures are lagging.
We expect more volatility in 2018 and overperformance of overseas markets, primarily in Europe and Asia. Interest rates should be higher by the end of the year given the trend of tightening monetary policies in developing countries.