Capital Market Outlook

IN THIS ISSUE

• Macro Strategy — Technicals Versus Fundamentals: Many have declared the bear market over while others expect new lows.
  
• Global Market View — Short-, Medium- and Long-term Factors for Equities: The outlook for Equities over the next several years could improve.
  
• Thought of the Week — A World Economy Still on Thin I.C.E.: Rarely have the Big Three—the U.S., Europe and China—struggled in tandem as they are today.