The document discusses the potential underperformance of European fixed income relative to the US due to valuation arguments and flow effects. It highlights the divergence in swap spreads between the US and Germany and outlines key risks to the economic outlook, including external risks from China and oil prices, and domestic risks such as fiscal policy changes and political risks in Europe.
documents/vol00010-efta01458978-pdf.pdf
{"title":"World Outlook 2016: Managing with less liquidity","document_date":"2015-12-08","document_type":"tabular","key_locations":["US","Europe","Germany","China"],"key_organizations":["Deutsche Bank","Federal Reserve","ECB","Bloomberg Finance LP","Haver Analytics LP","Consensus Economics"],"reference_numbers":["DB-SDNY-0119153","SDNY_GM_00265337","EFTA01458978"]}