NN IP: Dealing with Trump reality

Asset Allocation
Dealing with reality
We often tell investors to always expect the unexpected. Donald Trump also learned this as he had to pull his healthcare bill. The reality show that politics has become can however not take away that markets care more about the underlying state of the economy than they do about political theatre. Read more

Economic Outlook
Japan's road to reflation
Senior Economist Willem Verhagen reviews the steps Japan has taken in the past years on the road to reflation and contemplates the ways the Land of the Rising Sun could go forward. Read more

Equity Strategy
Accelerating outperformance in EM equities
EM growth momentum remains strong, with increasing hopes for a domestic demand growth recovery. The growing doubts about Trump’s effectiveness are good and bad for EM. Read more

Fixed Income
Walking the line between reflation and the search for yield
Spread products are balancing between reflation and a search for yield. Unattractive valuations may be a recipe for volatility. We upgraded emerging market debt, where sentiment and momentum have improved. Read more