July 18, 2016: Markets in the first half of this year faced worries about a U.S. recession and a Chinese hard-landing, along with Britain’s recent vote to leave the European Union. What’s our outlook from here?
The Brexit vote initially shocked global markets. Since then, most of the damage has centered on the British pound and domestic British stocks. We think the slow global expansion is durable, but does face a threat from populist politics.