For the first time in years, the world’s major economies all appear to be on the road to recovery. Heading into the second half of the year, clarity is improving on many fronts, but questions remain: Can U.S. markets sustain their winning streak? Will Europe finally turn the corner? What will rising rates mean for investors? And will politics upend everything? Here are four key themes and investment implications to consider as you position portfolios for the balance of 2017 and beyond.