Jack Byerley

After a tricky December, we would expect the market to remain volatile around the inauguration of Trump. Although the initial read-through was that Trump's policies will be business friendly, we are conscious that growth and inflation could be at risk as a result of other initiatives like trade and government efficiency. Although there is uncertainty, plenty of other markets still sit on attractive valuations, with pessimism very much baked in, especially in Europe and the UK. The German election in February could be a catalyst for a European recovery should the debt break be lifted.

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