Markets are pricing in expectations that the ECB will have to be very aggressive next week if it is to turn back the tide of European deceleration. It's reminiscent of October 1987.

Central banks must complete the Great Unwind – removing ultra-easy monetary policies. The critical period for markets will come when the Fed lifts short-term rates (probably, but not necessarily, after tapering ends).

Understanding what is going on under the bonnet at central banks is key to understanding what will drive markets – and therefore how to best position portfolios.

Our Forum Fodder NZ e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams.

Our Forum Fodder e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. Disruption is an unplanned theme in this week's Fodder with Mohamed El-Erian & Dominic McCormick

Our Forum Fodder e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. In Fodder this week - Nouriel Roubini, Tim Farrelly, Michael Furey & Stephen Anness

Our Forum Fodder NZ e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. In Fodder this week - Nouriel Roubini, Tim Farrelly, Michael Furey & Stephen Anness

Our Forum Fodder e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. In Fodder this week - SAA vs DAA, passive vs active, quant vs qual - each a major debate of investing

Our Forum Fodder NZ e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. In Fodder NZ this week - SAA vs DAA, passive vs active, quant vs qual - each a major debate of investing

Our Forum Fodder e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams.

Our Forum Fodder NZ e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. In Fodder NZ this week - 3 powerhouse economic commentators - Nouriel Roubini, Pippa Malmgren and Charles Gave

Our Forum Fodder e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams.

Our Forum Fodder NZ e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. In Fodder NZ this week - Tim Farrelly, Robert Shiller and Michael Edesess

Our Forum Fodder NZ e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. Fodder kicks off with a memo received overnight from Dr Robert Gay. Plus Ken Rogoff, Michael Kitces,Hamish Douglass

Our Forum Fodder e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. It's a provocative Fodder this week with views from Tim Farrelly, Robert Shiller and Michael Edesess

Our Forum Fodder e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. In this week's Fodder: A diverse range of views - Louis-Vincent Gave, Dom McCormick & Michael Kitces

Our Forum Fodder NZ e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. Fodder kicks off with a memo received overnight from Dr Robert Gay. Plus Ken Rogoff, Michael Kitces,Hamish Douglass

If you believe the US State Department has the Crimean situation under control, plan for a bullish scenario for risk assets. Plan for the opposite, if you believe Putin will prevail.

Our Forum Fodder NZ e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. In Fodder NZ this week - Anatole Kaletsky on Russia's incursion into Ukraine plus the final sessions from Markets Summit

Our Forum Fodder e-newsletter alerts Members to what's new on PortfolioConstruction.com.au and live progams. In Fodder this week: Anatole Kaletsky on Russia's incursion into Ukraine plus the final sessions from Markets Summit