Dear Reader,
The Federal Reserve FOMC members seem divided on whether to raise the Federal Funds Rate soon.
I still envisage only one Federal Funds Rate(FFR) hike in 2017. I suspect one hike will be erased from the three currently pencilled in at the March Federal Reserve Meeting.
US stocks are due for correction. I think the correction will ensue when the Federal Reserve hikes the FFR. Most affected are going to be tech stocks, financials, utilities, real estate. I envisage a correction of 10-15% in the the main US indices DJIA, S&P 500, Nasdaq somewhere in 2017.
Chinese authorities have taken steps to curb the implicit reliance of the market for wealth management products on government guarantee. That could pull funds from the Chinese stock market and dim its excellent prospects. I still forecast, however, the Shanghai Composite will rise by 15-20% in 2017.
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Kind regards,
Petar Posledovich
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