Betting On A Good Year, Bracing For A Messy One

Authored by Michael Ball, Bloomberg macro strategist,

The base case for the year ahead is growing more positive after this week’s data leaned into a soft-landing narrative for the economy.

And yet, the only thing that feels truly certain is the sheer range of ways growth, inflation, policy and geopolitics can wrong-foot a market already pricing in much of that optimism.