The US is running a 'hot' economy, Japan is showing signs of growth, Europe is stagnating and China is facing structural problems.

Against this backdrop of positive growth and recovering volumes, especially from a credit perspective, we expect rates to remain at 3-4% in the US and 2-3% in Europe: the financial sector could offer interesting returns, with stocks offering attractive dividends. Also in the bond market, the financial sector offers value, while the rest should be selected carefully.

Find out more in the latest update from Davide Serra, Founder and CEO of Algebris.