Earlier this year, we saw a transition from an old-style currency war (openly fought with negative interest rates and quantitative easing) to the “Shanghai co-op” – an implicit agreement, or truce, among major central banks that excessive dollar strength was bad for the global economy.

We assess three global economic scenarios for 2017.

You are probably familiar with the well-known statistic that, on average, the U.S. stock market has historically performed better when a Democrat rather than a Republican occupies the White House.

Secular forces in the global economy suggest we aren’t likely to see a new paradigm of stronger growth, higher inflation and higher interest rates under the Trump administration.

Have you ever wondered why global markets have been so calm since the volatile first quarter? Well, the halt in the U.S. dollar’s appreciation played a major role.