Fed Update: Yellen repeats "only gradual increases" in rates
Fed Chair Janet Yellen told Congressional committees on Feb. 10-11, 2016, that there are risks to the economic outlook that could affect future interest-rate hikes.
Commodities again faced a difficult year in 2015. Potential headwinds from oversupply in many key commodities still are factors for 2016.
We think a valuations gap versus developed markets means there are opportunities in high-quality, emerging market companies. We also see slower growth in China next year, but believe it will stay close to 2015's rate.