Don’t lock your mortgage rates, don’t go for a refinance, don’t take on more debt on your credit cards and don’t forget to follow your personal finance advice. Every year there are new predictions about the financial market based on which the consumers make decisions throughout the year. Just as crystal ball predictions also fail at times, such financial anticipations might not be 100% true as well. Nevertheless, there’s no harm in knowing how the markets are going to perform as that will make you even more watchful about the steps that you take.

The concerns of this article will tell you about what some of the intelligent minds predict about the future financial market. Take a look.

• Ruchir Sharma predicts people to watch out for a worldwide recession

Ruchir Sharma is the head of emerging markets at Morgan Stanley Investment Management. According to him, the entire country is just a bit away from facing a global economic depression and he thinks that this recession will most probably generate in China. It is in China where there’s huge debt load, decline in population and high level of investment are all working together to bring down economic growth. On the other hand, the low-debt countries from South Asia to Eastern Europe are in a better position to fight against the inevitable turn in the economic cycle.

• Thomas J. Lee asks you to watch out for equities

Thomas J. Lee is the managing partner at Fundstrat Global Advisors. Equities are predicted to perform really well in 2016, especially those with blue-chip businesses and the bigger banks. The Fed tightening will benefit the banks and this will enhance their returns on equity with the expansion of the economy. When you take a close look at the blue-chip companies, you will see that they will be capable of generating strong returns soon as the economy starts recovering.

• Dan Fuss says fixed income will face a tough road ahead

Dan Fuss is the vice chairman at Loomis Sayles & Co. and portfolio manager of Loomis Sayles Bond Fund. According to predictions, yields on 10-year Treasury note will probably rise to 2.8% by the time 2016 ends. Although Fuss alerts the present geopolitical turmoil makes predictions particularly difficult. All those investors who have invested in bonds in their portfolio in such sluggish times, Fuss advises a mix of investment-grade corporate, Treasuries and high-yield debt as this has the best chance of success. He also advises that investors have to be extremely choosy with regards to high-yield bonds instead of depending on an index fund. It is hence clear that high-yield has the highest value as compared to stocks but there’s even more scattered here and there.

• Rebecca Patterson says that the EU will face its biggest challenge

Rebecca Patterson is the chief investment officer of Bessemer Trust which has a worth of more than $100 billion in assets. What do you think is the toughest risk for Europe in the year? It is going to be the refugee crisis and this will be the toughest challenge that the EU (European Union) will face. The terrorist attacks in Paris will gradually lead to an increase in the risk which the refugee crisis could lead to in a policy or a political shift or this could even lead the consumers to change the spending patterns. After the Paris attacks, there was a light thrown on the European refugee crisis and there are many more investors who are globally thinking about the millions of immigrants and what they mean for the respective markets and the economy.

• Jim Caron predicts a lift in the economy

Jim Caron is the managing director of Morgan Stanley Investment Management. The risk of inflation will return to the financial markets and this may even offer an upward lift for the 30-year Treasury yields, which will move towards 3.75%. The markets may even be surprised by the slow growth of Federal Reserve hikes in the backdrop of what might be an improving financial climate.

• Barbara Byrne asks consumers to get energized

Barbara Byrne is the vice chairman of Barclays Capital and according to her, consumers will probably see a recovery in the price of natural resources for critically vital political reasons. Sovereign wealth funds will decline in Norway and Saudi Arabia and countries are going to see a reversal on that. No longer will countries be able to afford fluctuations in their reserves.

Therefore, if you’re wondering about the ways in which you should deal with your finances, you should take a look at the bigger picture. Assess how the global market is going to perform and then base your financial decisions on them so that you don’t make a wrong decision.