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Investors ought to strap in for a rough ride in the new year

Trump could light the fires of inflation and trigger fiscal stimulus and large-scale infrastructure investment. But that's just the good news.

Mr Sheard: The US dollar will not lose its reserve currency status, nor US financial markets their preeminent global position.

Mr Lloyd-George: Unemployment (in the UK) is likely to rise, and London property prices, in my opinion, could fall 30-50 per cent.

Mr Collyns: Upward pressure on global rates will give the ECB and BOJ more scope to combat ultra-low inflation.

Mr Koll: European bond markets are as vulnerable to a global bond market crash as those of emerging markets.

Mr Thomson: In the worst case, we face severe financial and banking difficulties in some countries, like Italy.

Roundtable participants:

  • Charles Collyns, chief economist and MD, Institute of International Finance
  • Paul Sheard, executive VP and chief economist, S&P Global
  • Robert Lloyd-George, head, Lloyd George
  • ...

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