Authored by Michael Cembalest, JPMorgan Chairman of Market and Investment Strategy,
For investors, one potential landmine is a dramatic change in Europe’s political landscape just as the continent is finally posting positive growth again. Why would anti-establishment parties be rising when its economy is improving?
At our JP Morgan Asset Management Global Investor Summit and International Council meetings in October, we discussed this issue at two client sessions, one with Condoleezza Rice and the other with Henry Kissinger. The charts below are a synopsis of those discussions. Like Harold Pinter’s play Betrayal, this story is best told backwards; starting with what’s happening now, and finding our way back to root causes.
This post was published at Zero Hedge on Nov 19, 2016.