A recession next year in the United States is a one-in-four chance, it's best to be out of US stocks before the second half of 2018, Japan and Europe will be the new hot spots and the Australian dollar looks overvalued.
These are just some of the findings from Russell Investments, the global asset manager that has just released its world outlook for the next 12 months.
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Philip Baker writes on markets specialising in bonds, equity markets and currencies. Based in our Sydney newsroom, Phil is a markets columnist. Connect with Philip on Twitter. Email Philip at pbaker@fairfaxmedia.com.au
