What investors should look out for in second half of 2015
Returns are likely to be moderate and volatility will be higher given the likelihood of a Fed lift-off
THE tone for the first half of 2015 was set largely by two major trends that carried over from last year and then petered out - global disinflation and expectations of US monetary policy normalisation.
Looking back
Last year, a sharp correction in oil and other commodities triggered fears of deflation risks across the world. As a result, in the first half of this year, we saw a wave of monetary easing by central banks, ranging from rate cuts (Australia, Canada, South Korea), currency adjustments (Switzerland, Singapore) to quantitative easing (euro area).
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