KKR Releases "Spotlighting 2016's Great Debates" by Henry McVey
New Macro Outlook Piece Highlights Key Views that Diverge from Consensus
Specifically, "Spotlighting 2016's Great Debates" focuses on the following views:
1. Looking through the lens of nominal GDP rather than real GDP, we see much slower growth for business operators.
2. China's currency dilemma is primarily linked to its capital account, not its current account. Even with a strong currency in recent years,
3. Non-traditional monetary policy, negative deposit rates in particular, could now be a headwind, not a tailwind, for risk assets.
4. Oil will likely remain in a bear market as long as supply continues to outpace demand, which we suspect will remain the case throughout most of 2016.
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The views expressed herein are the personal views of Henry McVey of KKR and do not necessarily reflect the views of KKR. This information is not research and should not be treated as research. It does not represent valuation judgments with respect to any financial instrument, issuer, security or sector that may be described or referenced herein and does not represent a formal or official view of KKR. It is being provided merely to provide a framework to assist in the implementation of an investor's own analysis and an investor's own views on the topic discussed herein. There can be no assurance that an investment strategy will be successful. Historic market trends are not reliable indicators of actual future market behavior or future performance of any particular investment which may differ materially, and should not be relied upon as such. This information should not be viewed as a current or past recommendation or a solicitation of an offer to buy or sell any securities or to adopt any investment strategy. References to a target portfolio and allocations are hypothetical allocation of assets and not reflect an actual portfolio. The views expressed herein and discussion of any target portfolio or allocations may not be reflected in the strategies and products that KKR offers or invests, including strategies and products to which
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