In 2016 the local index was held ransom by a run of unpredictable political and macro economic events. The ASX200 climbed an unremarkable (but tidy) 7%, which belies the volatile, circa 1000 point trading range that it traversed. The influence of these events was not lost on equity investors, Macquarie Research estimates circa 75% of US stock moves in 2016 were driven by macro developments as opposed to stock-specific events. With Trump’s inauguration only weeks away, it is easy to see why strategists believe 2017 will again be dominated by big picture events. The latest edition of Livewire’s 2017 Outlook Series steps back from stock specific matters and asks Shane Oliver, Vimal Gor, Chad Slater and Jonny Shapiro (AFR) for their views on 5 big macro trends. We also probe them for the one Black Swan event that they think has the potential to surprise markets this year.