Blackstone's Byron Wien Unveils His 'Ten Surprises' For 2015

Jan 7 2015 | 1:39pm ET

1. The Federal Reserve finally raises short-term interest rates, well before the middle of the year, encouraged by the improving employment data and strong Gross Domestic Product growth.  The timing proves faulty, however, as the momentum of the economy has begun to flag and a short-term slowdown has started.  The end of monetary accommodation and rising rates precipitate a correction in equities.  Long-term Treasury rates stay where they started and the yield curve flattens.

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