Bank of America calls it the Icarus Trade: global stock markets will surge another 10 per cent in a "melt-up" this quarter, followed by a mirror "melt-down" later in 2017. HSBC's latest global outlook is even darker.
Shares have opened lower, pulled down by the big banks as the Trump trade of the past months shows more signs of unwinding.
Some investors notched up big gains, others losses, betting on the US vote. Jim Chanos says markets are set for a historic shift.
George Soros lost nearly $US1 billion as a result of the stockmarket rally spurred by Donald Trump's surprise presidential election, the Wall Street Journal reported.
The lockstep moves in financial assets that characterised markets in the past few years are breaking down.
Local shares are poised to edge higher, lifted by an overnight rally in commodities. Global equities slipped on the $US.
​The European Central Bank should start unwinding its ultra-loose monetary policy this year, said Germany's finance minister.
Brendon Grylls is undeterred by industry criticism of his push for a 20-fold increase of an ore levy in Western Australia.
Turkey's central bank finally gained traction in its efforts to prop up the lira.
​Chinese rebar steel futures rose for a fourth session amid Beijing's campaign to pare excess steel production capacity.
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