Global equities are set to enter a difficult period in the second half of 2017 and a confluence of three major factors will see a sell-off in stock markets, according to analysts at Credit Suisse.
"(We) anticipate a sell-off in equity markets," an equity research team, led by Andrew Garthwaite, at Credit Suisse said in a note on Friday morning.
Gazing into the distance, the team sees investors being confronted by sharply accelerating U.S. wage growth. Wages remain a hot topic in the U.S. seven years after the global financial crash. The issue has been raised on the presidential campaign trail in the U.S. and major retailers such as Target and Wal-Mart have already announced an increase to wage floors.