Tell Me Something I Don’t Know

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A winter of our discontent, a glorious summer. It’s always darkest before the dawn. There’s a light at the end of the tunnel. Any one of these clichés befits what the coming year looks like on the economic front. But in terms of market impacts, investors might be asking for something they don’t already know, because some form of the bad news first, good news later outlook must already be largely priced into equities, bond yields and currencies.

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