The paper explains why the team expects bifurcation and volatility to remain dominant themes in 2016, making positioning especially important. Topics covered in the piece include the firm’s perspectives on: U.S. equities, emerging markets, Europe and Japan, convertible securities, high yield opportunities, and alternative strategies. Calamos invites you to read the entire Economic Outlook at www.calamos.com/outlook. About Calamos Calamos Investments is a diversified global investment firm offering innovative investment strategies including U.S. growth equity, global equity, convertible, multi-asset and alternatives. The firm offers strategies through separately managed portfolios, mutual funds, closed-end funds, private funds, an exchange traded fund and UCITS funds. Clients include major corporations, pension funds, endowments, foundations and individuals, as well as the financial advisors and consultants who serve them. Headquartered in the Chicago metropolitan area, the firm also has offices in London, New York and San Francisco. For more information, please visit www.calamos.com.