Key Points
- The acceleration phase in global activity now appears to be behind us.
- Inflation should progressively normalise
- All central banks will prepare their exit strategies.
Confidence has returned to the markets and the beginning of the earnings season looks great, with several positive surprises. The IMF has presented its outlooks for 2018 and 2019 and they seem very upbeat: world growth is expected to come in at 3.9%.