The Global Investment Outlook: RBC Investment Strategy Committee
The global economy continues to progress through the recovery phase of the business cycle. However, several storm fronts have rolled in, resulting in light turbulence that has modestly rerouted the global economy. These clouds include the devastating events in Japan, the ongoing disintegration of Eurozone finances, the lingering effects of high oil prices and a spate of disappointing economic data. Together, they have produced a mid-cycle gut check for financial markets. Despite the assemblage of mediocre and bad headlines, the authors steadfastly believe that the economic recovery is still proceeding. The vast majority of indicators confirm a continuation of the economic recovery, if a slightly less ebullient one.