Original article by Ambrose Evans-Pritchard
The Australian Financial Review – Page: 24 : 13-Jan-16

Royal Bank of Scotland is extremely bearish about the outlook for global financial markets in 2016, advising investors to offload all holdings except for "quality bonds". The bank has forecast that sharemarkets in the US and Europe could fall by 10-20 per cent, while global bond yields will also decline sharply and the US Federal Reserve may be forced to cut interest rates. Meanwhile, RBS says the price of Brent crude oil could potentially test $US16 per barrel. Originally published in "The Telegraph".

CORPORATES
ROYAL BANK OF SCOTLAND GROUP PLC, FTSE 100 INDEX, UNITED STATES. FEDERAL RESERVE BOARD, BANK OF ENGLAND, ORGANISATION OF PETROLEUM EXPORTING COUNTRIES, MORGAN STANLEY AND COMPANY INCORPORATED, UBS AG