Through a glass darkly: predictions for H2 2016

I'M STILL bearish. Rewind to our conversation from January. I warned that this would be a bearish year for equities. And that the second half would be worse than the first half. I said then there was still some life in equities markets in H1, but to use the rebounds to lighten up on risk - not to add to risk. I still believe that.

There's the good, the bad, and the ugly. And there's a bit of good. But I'm going to save it for later. So first, the bad and the ugly:

Prediction #1: