Contents

Focus themes
Focus 04 – 07
News in brief 08 – 09
Interview 10 – 12
Fault lines 13
Key investment ideas
Market outlook 14 – 15
Asset allocation 16 – 17
Overview of research stories 18
Overview of key investment ideas 19
Investment idea 20
Financial markets overview
Overview 21
Economy 22 – 25
Equities 26 – 37
Bonds 38 – 41
Currencies 42 – 43
Commodities 44 – 45
Real Estate 46 – 47
Non-traditional asset classes 48
Technical analysis 49