According to our risk factor-based analysis, equities are likely to provide a total return of around 10% on average next year.Major equity markets are likely to deliver a total return of around 10% in 2017 according to our risk factor-based analysis framework. This projection is contingent on two market risk factors, i.e. equity and interest rates.We use four building blocks in our calculation of projected equity returns: dividend yield, buyback yield, valuation and earnings growth.The...
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