Ten global market calls for 2014 | David McWilliams:
"Today, as there will be lots of commentary on Ireland, let’s go large, gain altitude and look at the broad global economic canvas, to see what is likely to happen in 2014. Making forecasts is risky business, but so too is life – and as return is the opposite of risk, you will hardly get one without the other. So let’s take a plunge and outline my top ten global financial/economic forecasts for the year.
1 The background noise in 2014 will be one where the US – and maybe Britain – tries to reverse the monetary easing of the past five years.
While this may point to higher interest rates in Britain and the US, it will certainly mark the end of the free liquidity which drove prices of everything from Francis Bacon paintings, expensive footballers to upscale apartments in Knightsbridge through the roof. We know that liquidity squeezes are to trophy assets what open goals are to Francisco Torres; they don’t like each other."
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