The outlook for global markets in 2008

These are uncertain times for markets, but which are looking shakiest? Here is a summary of our perspectives on global markets this year.

Most markets finished up again last year, with the FTSE All-World index gaining 10% in dollar terms. But in 2008 profits "could prove as elusive as those notorious Revenue and Customs data CDs", as Andrew Ellson puts it in The Times.

Rarely has the outlook been so fraught with potential trouble. Losses stemming from the subprime crisis have yet to work their way through the banking system and look set to rise now defaults are emerging on other classes of mortgages and credit cards.

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