How 2017 has panned out

John Stepek takes a look back over the past year to see how his predictions have fared.

In early December last year (issue 823 to be precise), I looked at five big trends we thought would shape 2017. Making forecasts particularly such short-term ones is a mug's game, of course. But having made them, it's only fair to look at how they panned out.

Our first prediction was that the bond bull market was over, with 2017 set to mark a major turning point, helped by increased fiscal stimulus from a Donald Trump administration. It still seems likely that summer 2016 saw the lows for bonds. However, the path to reflation this year has not been smooth, with Trump achieving little, and his tax plan only now juddering through the US political system. And while central banks have switched their focus to tightening, they're doing so at a leisurely pace. As a result, US Treasury yields have yet to breach the 3% mark as we predicted.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.