With 2016 still fresh in most investors' minds, and questions about 2017 pressing, here is a summary, courtesy of Goldman's Allison Nathan, of where Goldman believes we closed out 2016, what is in store in the coming year, and ultimately, "what keeps Goldman up at night" about 2017.
2016, and a peek at 2017
Over 50 days after Indian Prime Minister Narenda Modi stunned India's population when he announced on November 8 he would unexpectedly eliminate 86% of the existing currency in circulation in what was supposed to be a crackdown on the shadow economy, but instead has resulted in a significant hit to the broader, cash-based economy, overnight we noted the first official confirmation of how substantial the impact of Modi's demonetization has been, when the Nikkei India Manufacturing Purchasing Managers Index printed at 49.6 in December, the first contraction reading since December 2015, as the
While most of the world is enjoying it last day off from the 2017 holiday transition, with Asia's major markets closed for the New Year holiday, along with Britain and Switzerland in Europe and the US and Canada across the Atlantic, European stocks climbed to their highest levels in over a year on Monday after the Markit PMI survey showed manufacturing production in the Eurozone rose to the highest level since April 2011.
Submitted by Federico Pieraccini via Strategic-Culture.org,
Aside from the previously noted FX fireworks early in the illiquid Asian session, which saw the US Dollar "flash crash" briefly against most pairs, including the Euro and the Swiss Franc...