2017's 'outrageous' calls: China shares to double; UK to Bremain
Doubling of bitcoin prices, halving of US healthcare stock prices, a brutal sell-off in copper prices and Britain choosing to remain in the European Union are some forecasts by Copenhagen-based Saxo Bank‘s in its report â€˜Outrageous predictions for 2017‘.
Doubling of bitcoin prices, halving of US healthcare stock prices, a brutal sell-off in copper prices and Britain choosing to remain in the European Union are some forecasts by Copenhagen-based Saxo Bank’s in its report ‘Outrageous predictions for 2017’.
“The biggest challenge for the crop of outrageous predictions this year is to follow up from the ‘surprises’ of Brexit and the election of Donald Trump as US President. It seems sometimes ‘life’ or ‘reality’ beats even the most outrageous calls,” says Steen Jakobsen, CIO of Saxo Bank in the report.
Among some of Saxo's 'outrageous' forecasts for this year (2016), made in December last year, included one that said Russian ruble could rise 20 percent -- this is close to the 15 percent appreciation in the Russian currency against the US dollar and the euro.
The Saxo report last year was also correct in predicting that Brazil’s stock exchange would perform well in 2016 -- the country's index has clocked return of around 32 percent.
Saxo Bank cautions that the predictions should not be considered as its official market outlook. It is instead the events and market moves deemed outliers with huge potentials for upsetting consensus views.
Following are the audacious predictions for 2017.