The Threats To Global Recovery Are Economic - Not Political

The worries around Brexit, the US elections, risks in the Chinese economy, and populism in Europe that loomed large 12-18 months ago have eased. Our "worry index," which tracks references to terms such as risk, uncertainty, and instability in the major business papers has fallen by 30 percent from its 2016 peak. Financial measures of risk have declined, so much so that some see markets as overly complacent.