Global Weekly: Running on more engines

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Europe and emerging markets are taking over from the US as the engines of economic growth. Despite politics dominating markets this week, fundamentals remain strong.

Domestic momentum in many important economies has picked up and is set to become the main driver of growth in the remainder of 2017. While the US had led the recovery, other growth engines, such as Europe and emerging markets, are now starting up. In this environment, ABN AMRO prefers equities over bonds, and, in particular, the stocks of European and emerging markets countries. More information regarding this view can be found in the ABN AMRO mid-year investment outlook, “Running on more engines”, published this week.