European stocks have outperformed this year as China’s economy restarts and the energy shock proved less severe than expected.

Now that some of Europe’s most critical elections have been resolved, investors looking ahead to the second half of 2017 may want to redirect their focus. This may be the time to take a closer look at other market drivers like economic growth, rising inflation and global monetary policy says Ann-Katrin Petersen, investment strategist at Allianz Global Investors.

Allianz Global Investor’s Capital Markets and Thematic Research team and analyst Ann-Katrin Petersen say that even though the year ahead will continue to be challenged by uncertainties, market disruptions may prove fleeting—and cooler heads will likely prevail.