Even though the US has seen so-called 'strong' job numbers and Europe is forecast to grow 1.5% this year, Saxo Bank’s Chief Economist Steen Jakobsen says 2015 will be a lost year. That’s because the two supposed growth engines of the world - the US economy and emerging markets - will grind to a halt and slow Europe down in the process. As we already pointed out, for the first time since Lehman, US earnings are now expected to drop in 201 [3]5 - apparently confirming this second-half hockey-stick is now dead... and as Jakobsen explains in this brief clip, capital preservation remains a must going into the second quarter of the year... with 10Y Treasury yields expected below 1.5% by the end of the year.
Via SaxoTV...
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