2016 SIA Perspectives
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During the past 23 years, we have witnessed financial market headline news that has, at times, favored the “fools and fanatics” who were certain of their outlooks. Understanding that nothing is certain in financial markets, we often doubt headline forecasts and seek counterbalancing opinions from our wise universe of strategists and investment managers.
During the 3rd quarter, investors once again faced uncertainties with the installation of a new government in the United Kingdom, an unsuccessful coup attempt in Turkey, ongoing conflicts in Syria and a U.S. presidential campaign that continued on an unconventional path.
There were plenty of news headlines throughout the second quarter, yet most investors will only remember the fallout from the referendum in the U.K. to leave the European Union. In the week leading up to the vote, markets rallied as polls indicated the at the “stay” camp was winning.
Now that stock indexes have rebounded and are closing in on record levels, it is easy to forget that the start of the year was quite stressful. Early in the year a litany of fears, including plunging oil prices, slowing growth in oncebooming China and angst surrounding the number of coming interest rate hikes by the Federal Reserve in 2016, spooked investors and sparked across the board selling of any asset deemed “risky”.