Today Marco Willner, NN IP’s Head of Investment Strategy, joins us again to look at how the situation has changed since we talked to him in our 23 June podcast (Two medium-term economic scenarios help us navigate the uncertainty). Marco takes a fresh look at some of the factors that could push the economy closer towards our boundary scenarios – either a speedy economic recovery or a prolonged stagnation. Although the picture has become more mixed, growth and earnings numbers have been better than expected. The increasingly prominent theme for the medium term is the US elections – an event which will shape many of the other variables.