Services growth to fuel equities

There is a shift away from goods and commodities towards services and this is one of the key factors behind how the equity, currency, and  fixed income markets are going to perform for the next several years, an investment bank says.

UBS cites China becoming services-driven and earnings being domestic. Automation would go mainstream.

Also, the world is moving from the shareholder society to a stakeholder society, while taxation is shifting  from a low level, especially in the US, to a slightly high level.