Global Liquidity Conditions Major Markets, January 2016

Global Liquidity, our forward-looking indicator of investment risk and future economic prospects, slid lower at the end of 2015, closing the year at an index value of 41.8 (‘normal’ range 0-100). This compares to 50.2 for end-2014. The GLI™ (Global Liquidity Index) essentially trended lower consistently through 2015 and its low level warns of continued tough investment markets and slower economic activity ahead.