

Who will Trump in 2017, Goldilocks or The Bears?
The stock market rally is in its 8th year and with the election of Donald Trump markets added yet another phase to the rally. Does this mean that the next bear market is now more imminent than before? Last year we had a fascinating turn in market sentiment around about the middle of the year when investors decided that the bets they were taking on deflation had gone too far and decided instead to bet on a steady reflation of assets. This was largely initially driven by China