'Summer of discontent' brewing for market: Pro

A trader works on the floor of the New York Stock Exchange.
Jin Lee | Bloomberg | Getty Images

This winter-into-spring of geopolitical disturbance could generate a "summer of grumbling discontent" for the global economy, according to one Wall Street forecast.

Though markets Monday mostly cheered Crimea's decision to end the uncertainty and align itself with Russia, the saga in that part of the world is likely only taking a breather.

As political unrest continues and Russia deals with sanctions from the West, an economic recovery expected to be led by the U.S. and other developing markets could morph into a significant letdown that dampens the spirits of risk-embracing investors.

"All-in-all, it feels as if we may be heading into a summer of grumbling discontent, rather than the steady and progressive U.S.-led recovery that had become the consensus view around the start of the year," Mark Schofield, head of interest rate strategy at Citigroup, said in a note.