With apologies to Clement Clarke Moore:
‘Twas the week before New Year, when the calendars turn,
And investors were anxious about the returns they might earn
In the 12 months ahead they were about to confront.
They face strange dilemmas they are unable to shunt.
The dangers, the downsides, are quite real and intimidating,
Especially so with the Fed not still accommodating.
There are risks that are critical, both old ones and neo,
Some are homegrown exposures and others quite geo.
