Q2 2019 Outlook:
Europe – can the centre hold?

Q2 2019 Outlook:
Europe – can the centre hold?

Having thrived off the peace dividend, the gap between Europe and its international counterparts is widening. Can the EU reverse its fortunes?

Beware the global policy panic

Europe is sliding back into recession, China has pushed back its 2025 plan by a decade and US market tremors have forced the Federal Reserve to make an embarrassing about-face in its first 2019 outing. Welcome to the Grand Finale of what Saxo’s chief economist Steen Jakobsen terms “the worst monetary experiment in history”.

It is both difficult and dispiriting to tally the costs of the extend-and-pretend regime. The replacement of the business cycle by a mere credit cycle, the inflation of asset prices and the creation of the worst inequality seen in generations have already wrought foreboding economic and political changes. These are the ingredients of the coming panic, which will likely see policymakers scramble wildly to recover some semblance of post-crisis normalcy.

These problems, as well as the problems created by trying to solve them, will bring volatility, turmoil, and wild swings of sentiment to markets this coming year. Whether 2019 marks the start of a new cycle or merely the prelude to an introduction, clear-eyed investors will need to be more active and dynamic than ever before.

Download the Quarterly Outlook now and read the SaxoStrats’ views on the macro picture, as well as specific asset classes.

QUARTERLY OUTLOOK

Q2 Outlook: Can the centre hold?

Steen Jakobsen

Chief Economist & CIO


QUARTERLY OUTLOOK

Q2 Outlook: You can't fight gravity

Kay Van-Petersen

Global Macro Strategist


QUARTERLY OUTLOOK

Q2 Outlook: Europe has the most to lose and most to gain

John Hardy

Head of FX Strategy


QUARTERLY OUTLOOK

Q2 Outlook: Debt-financed spending versus rising populism

Eleanor Creagh

Australian Market Strategist


QUARTERLY OUTLOOK

Q2 Outlook: Commodities power ahead

Ole Hansen

Head of Commodity Strategy


QUARTERLY OUTLOOK

Q2 Outlook: The great divergence

Peter Garnry

Head of Equity Strategy


QUARTERLY OUTLOOK

Q2 Outlook: Why sovereigns are Q2’s investor favourites

Althea Spinozzi

Fixed Income Specialist


QUARTERLY OUTLOOK

Q2 Outlook: A reality check for the euro area

Christopher Dembik

Head of Macro Analysis


QUARTERLY OUTLOOK

Q1 Outlook: Beware the global policy panic

Steen Jakobsen

Chief Economist & CIO


QUARTERLY OUTLOOK

Q1 Outlook: Abenomics or Abysmal-nomics?

Kay Van-Petersen

Global Macro Strategist


Download the Quarterly Outlook now to read our #SaxoStrats’ analysis in full, and discover what this quarter holds in store for macro, equities, forex, fixed income, commodities, cryptos and more.

Previous Quarterly Outlooks